4 Nov 2013
A not strong enough USD/JPY slides to the 98.55
FXstreet.com (San Francisco) - After being rejected by the 98.70 level several times in the Monday's session, the USD/JPY has extended declines to trade at daily lows at 98.55.
Currently, the USD/JPY is trading at 98.63, back in the previous hours lateral range. The short term perspective remains slightly bullish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as CCI and Momentum are pointing to the south while the MACD and the Stochastic are neutrals.
Below the 98.50 area, next supports are at 98.30 and 97.80. On the downside, resistances are at 98.70, 98.90 and the daily descendant trend line coming from 103.70 area, today around 99.10.
Currently, the USD/JPY is trading at 98.63, back in the previous hours lateral range. The short term perspective remains slightly bullish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as CCI and Momentum are pointing to the south while the MACD and the Stochastic are neutrals.
Below the 98.50 area, next supports are at 98.30 and 97.80. On the downside, resistances are at 98.70, 98.90 and the daily descendant trend line coming from 103.70 area, today around 99.10.