18 Nov 2013
USD/JPY finds bids around 100.20
FXstreet.com (Chicago) - USD/JPY continues sustaining last week’s performance printing higher highs and lows ahead of Tokyo’s opening. With little data releases during the Asian session price action might take place rather the American session.
Data recap
Ahead of US data releases during the American trading session (net long-term TIC flows, NAHB housing market index, and Fed’s speeches. Last week, a clear rally was evidenced on the strengthening of the dollar after weaker than expected US results.
USD/JPY Technical Levels
Technically speaking, the pair is offered at 100.22 and retraces from the 100.30 zone extending the bearish channel that started last Friday. With an upward trendline that remains intact on medium-term timeframe (starting last November 7th lows), the pair has supports aligned at 99.67 (November 12th highs), 99 (November 13th lows) ahead of 98.48 (November 6th lows) and resistances set at 100.44 (November 15th highs), 100.71 (July 8th lows) followed by 101.56 (July 8th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and presents a neutral EMA20.
Data recap
Ahead of US data releases during the American trading session (net long-term TIC flows, NAHB housing market index, and Fed’s speeches. Last week, a clear rally was evidenced on the strengthening of the dollar after weaker than expected US results.
USD/JPY Technical Levels
Technically speaking, the pair is offered at 100.22 and retraces from the 100.30 zone extending the bearish channel that started last Friday. With an upward trendline that remains intact on medium-term timeframe (starting last November 7th lows), the pair has supports aligned at 99.67 (November 12th highs), 99 (November 13th lows) ahead of 98.48 (November 6th lows) and resistances set at 100.44 (November 15th highs), 100.71 (July 8th lows) followed by 101.56 (July 8th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and presents a neutral EMA20.