25 Jul 2013
USD/JPY recovering back towards 100.00
FXstreet.com (Barcelona) - USD/JPY dropped from 100.40 overnight to below the handle but has found support in the European markets at 99.80.
USD/JPY moved in fashion as the dollar was sold off across the board despite working its way to respectable levels earlier in NY and European markets yesterday after better than expected US data. We have seen Japanese investment data overnight, which was mixed all in all but certainly appeared to support the Yen despite coming in lower than expectations. Today we await US data in the afternoon in the form of Durable Goods Orders (Jun).
USD/JPY keeps eyes to 100.65 target
The market remains capped and while the pair struggles to cross above 99.80, this forms a descending resistance line from 100.80/90. The base of the cloud will be protecting 96.75/95.40 en route to the recent lows, 93.75 and above 101.60 brings the May highs into focus en rout for 105.00 areas. First target post 100.00 is 100.65.
USD/JPY moved in fashion as the dollar was sold off across the board despite working its way to respectable levels earlier in NY and European markets yesterday after better than expected US data. We have seen Japanese investment data overnight, which was mixed all in all but certainly appeared to support the Yen despite coming in lower than expectations. Today we await US data in the afternoon in the form of Durable Goods Orders (Jun).
USD/JPY keeps eyes to 100.65 target
The market remains capped and while the pair struggles to cross above 99.80, this forms a descending resistance line from 100.80/90. The base of the cloud will be protecting 96.75/95.40 en route to the recent lows, 93.75 and above 101.60 brings the May highs into focus en rout for 105.00 areas. First target post 100.00 is 100.65.