13 Nov 2013
USD/JPY climbs off 99.29 low but still within daily range
FXstreet.com (Barcelona) - Having posted an intraday low at 99.29, USD/JPY has pushed higher to trade at 99.50, down -0.16% on the days trading, and well with the daily range overnight high at 99.67.
USD/JPY low on fundamental drivers ahead of Japanese GDP
USD/JPY has been a slow mover today, with a daily range of 38 pips representing the sum of all movement. The main focus of the day has been on GBP, with the BoE Quarterly Inflation Report, and the only US data has been MBA Mortgage Applications which registered at -0.5%, against previous -2.8%. Ahead, during the overnight session, traders can look towards Japanese GDP at 23:50 GMT as a source of fundamental momentum.
What USD/JPY levels and patterns have to be considered?
Today, the pivot opint is located at 99.53. Support below can be seen at 99.25 (S1), 98.81 (S2) and 98.53 (S3), with resistence above at 99.96 (R1), 100.24 (R2) and 100.68 (R3). 99.53-99.87 represents a region with a cluster of technical levels and should be paid attention too. Meanwhile, a Piercing Line candlestick pattern can be seen on the daily chart.
USD/JPY low on fundamental drivers ahead of Japanese GDP
USD/JPY has been a slow mover today, with a daily range of 38 pips representing the sum of all movement. The main focus of the day has been on GBP, with the BoE Quarterly Inflation Report, and the only US data has been MBA Mortgage Applications which registered at -0.5%, against previous -2.8%. Ahead, during the overnight session, traders can look towards Japanese GDP at 23:50 GMT as a source of fundamental momentum.
What USD/JPY levels and patterns have to be considered?
Today, the pivot opint is located at 99.53. Support below can be seen at 99.25 (S1), 98.81 (S2) and 98.53 (S3), with resistence above at 99.96 (R1), 100.24 (R2) and 100.68 (R3). 99.53-99.87 represents a region with a cluster of technical levels and should be paid attention too. Meanwhile, a Piercing Line candlestick pattern can be seen on the daily chart.