12 Nov 2013
USD/JPY threatens highs, eyes 100.00
FXstreet.com (Córdoba) - The USD/JPY broke above 99.40 during the Asian session and rose to a 2-month high Tuesday supported by Nikkei gains.
Following a day of consolidation as investors assessed the NFP outcome, the USD/JPY gathered momentum and rallied to its highest level in 2 months at 99.79. However, the pair found resistance and stalled ahead of the key 100.00 level although it continues to threaten daily highs at the 99.75 area, where it records a 0.6% gain. During the New York session, second-tier US data could offer the pair some inspiration, although it is unlikely to last.
USD/JPY levels to watch
In terms of technical levels, the USD/JPY could face immediate resistances at 99.79 (daily high), 100.00 (psychological level) and 100.60 (Sep 11 high). On the flip side, supports could be found at 99.10 (daily low) and 98.92 (Nov 11 high) ahead of 98.60 (100-day SMA).
Following a day of consolidation as investors assessed the NFP outcome, the USD/JPY gathered momentum and rallied to its highest level in 2 months at 99.79. However, the pair found resistance and stalled ahead of the key 100.00 level although it continues to threaten daily highs at the 99.75 area, where it records a 0.6% gain. During the New York session, second-tier US data could offer the pair some inspiration, although it is unlikely to last.
USD/JPY levels to watch
In terms of technical levels, the USD/JPY could face immediate resistances at 99.79 (daily high), 100.00 (psychological level) and 100.60 (Sep 11 high). On the flip side, supports could be found at 99.10 (daily low) and 98.92 (Nov 11 high) ahead of 98.60 (100-day SMA).