13 Nov 2013
USD/JPY under pressure at 99.30
FXstreet.com (Chicago) - USD/JPY is put under pressure ahead of the US monthly budget statement for September along Japanese data publications.
Hours away from the release of Japanese data (foreign bond investment, foreign investment in Japanese stocks along GDP results), market participants resist bearish pressure but remain subdued to heavy selling.
USD/JPY Technical Levels
Price action reveals the pair continues under high bearish pressure despite attempt to consolidate a bounce from 99.19 session lows. Offered at 99.30, the pair oscillates between the supports aligned at 99 (November 10th lows), 98.70 (October 30th highs) ahead of 98.16 (November 4th lows) and the resistances aligned at 99.36 (November 7th highs), 99.71 (September 20th highs) followed by 100.25 (September 7th highs). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis navigating below the EMA20.
Hours away from the release of Japanese data (foreign bond investment, foreign investment in Japanese stocks along GDP results), market participants resist bearish pressure but remain subdued to heavy selling.
USD/JPY Technical Levels
Price action reveals the pair continues under high bearish pressure despite attempt to consolidate a bounce from 99.19 session lows. Offered at 99.30, the pair oscillates between the supports aligned at 99 (November 10th lows), 98.70 (October 30th highs) ahead of 98.16 (November 4th lows) and the resistances aligned at 99.36 (November 7th highs), 99.71 (September 20th highs) followed by 100.25 (September 7th highs). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis navigating below the EMA20.