13 Sep 2013
USD/JPY gains momentum; prints 99.86 new highs
FXstreet.com (Chicago) - USD/JPY printed session highs at 99.85 to accumulate 23 pips gained so far as bulls outweigh bears shortly after the opening of Tokyo’s session. The Nikkei 225 is down 0.08% so far ahead of Japanese data.
Market participants wait for industrial capacity results along capacity utilization changes for the month of July. Positive results indicate the Fed tapering is inevitable and the greenback strengthens against the yen.
Price action reveals higher lows and fresh new highs at 99.86. The pair continues aiming for the 99.80 mark after failing to sustain bearish pressure above the key zone. On the downside, supports are aligned at 99.59 (September 5th lows), 99.32 (September 8th lows) ahead of 99.00 (session lows) while resistances are set at 99.86 (September 3rd highs), 100.14 (September 5th highs) followed by 100.57 (September 11th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis.
Market participants wait for industrial capacity results along capacity utilization changes for the month of July. Positive results indicate the Fed tapering is inevitable and the greenback strengthens against the yen.
Price action reveals higher lows and fresh new highs at 99.86. The pair continues aiming for the 99.80 mark after failing to sustain bearish pressure above the key zone. On the downside, supports are aligned at 99.59 (September 5th lows), 99.32 (September 8th lows) ahead of 99.00 (session lows) while resistances are set at 99.86 (September 3rd highs), 100.14 (September 5th highs) followed by 100.57 (September 11th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis.