3 Dec 2013
USD/JPY sluggish below 103 handle
FXstreet.com (London) - USD/JPY has been a very sluggish play throughout Europe and NA, opening into Asia markets sub the 103 handle still.
Overall, USD/JPY continued to rally higher and has reached a high of 103.01. Startegists at Commerzbank suggested that the markets may see some consolidation near term and would allow for some weakness back to the 101.76 accelerated uptrend. “It continues to target the 103.74 2013 high, but the recent break up from a large triangle points to a longer term target of 108.86”.
USD/JPY Levels
The 20 DMA is 100.18, the 50 DMA is 98.87 and the 200 DMA is 98.29. RSI (14) reads 75.69. Supports are ascending from 101.43, 101.74, 101.85, 102.12, and 102.65. Spot is 102.95 while resistances are 103.00, 103.57 and 103.74.
Overall, USD/JPY continued to rally higher and has reached a high of 103.01. Startegists at Commerzbank suggested that the markets may see some consolidation near term and would allow for some weakness back to the 101.76 accelerated uptrend. “It continues to target the 103.74 2013 high, but the recent break up from a large triangle points to a longer term target of 108.86”.
USD/JPY Levels
The 20 DMA is 100.18, the 50 DMA is 98.87 and the 200 DMA is 98.29. RSI (14) reads 75.69. Supports are ascending from 101.43, 101.74, 101.85, 102.12, and 102.65. Spot is 102.95 while resistances are 103.00, 103.57 and 103.74.