4 Jul 2013
USD/JPY shy of 100 round ahead of BoJ Kuroda
FXstreet.com (Barcelona) - The USD/JPY foreign exchange rate is last trading shy of the 100 handle, off daily lows printed in late London session at 99.23, ahead of BoJ Kuroda speech at 00:30 GMT.
USD/JPY corrective bounce while below 100.30
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, “The hourly chart shows 100 SMA acting as dynamic support currently around 99.60, while indicators stand below their midlines. In bigger time frames, however, the movement seems more corrective, with technical readings now bouncing from their midlines. A price acceleration above 100.30 is now required to erase the possibility of another bearish run in the pair.”
USD/JPY key technical levels
Bednarik finds support levels at: 99.60, 99.25 and 98.80, while resistance levels at: 100.00, 100.30 and 100.70.
USD/JPY corrective bounce while below 100.30
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, “The hourly chart shows 100 SMA acting as dynamic support currently around 99.60, while indicators stand below their midlines. In bigger time frames, however, the movement seems more corrective, with technical readings now bouncing from their midlines. A price acceleration above 100.30 is now required to erase the possibility of another bearish run in the pair.”
USD/JPY key technical levels
Bednarik finds support levels at: 99.60, 99.25 and 98.80, while resistance levels at: 100.00, 100.30 and 100.70.