6 Sep 2013
USD/JPY consolidating above 100 1st time in 6 weeks
FXstreet.com (Barcelona) - The USD/JPY foreign exchange rate is last trading at fresh session and 6-week highs 100.18 ahead of US NFP later on at 12:30 GMT, and Nikkie futures pointing for a flat open today in Tokyo to end the week in the Asia-Pacific.
USD/JPY suggests little scope for slides
“The USD/JPY stands right above the 100.00 key level, extending the slow advance seen over the past couple of days,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “And while the hourly chart shows indicators lacking upward potential, price remains around daily high, which suggest little scope for slides. In bigger time frames the technical outlook is bullish with 100.30 as immediate resistance level to overcome to confirm another upward leg.”
USD/JPY key technical levels
Bednarik finds support levels at: 99.90, 99.50 and 99.30, while resistance levels at: 100.30, 100.70 and 101.00.
USD/JPY suggests little scope for slides
“The USD/JPY stands right above the 100.00 key level, extending the slow advance seen over the past couple of days,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “And while the hourly chart shows indicators lacking upward potential, price remains around daily high, which suggest little scope for slides. In bigger time frames the technical outlook is bullish with 100.30 as immediate resistance level to overcome to confirm another upward leg.”
USD/JPY key technical levels
Bednarik finds support levels at: 99.90, 99.50 and 99.30, while resistance levels at: 100.30, 100.70 and 101.00.