23 Sep 2013
USD/JPY flirts with support, sticking to 98.70 zone
FXstreet.com (Chicago) - USD/JPY was capped at 98.90 after bouncing off from 98.65 lows. The pair bottoms pairs’ performance list with 0.44% daily losses at the Wall Street closing.
Bearish Monday
Earlier in the US, the Markit Manufacturing PMI for September was 52.8 vs. past 53.1 and expected 54. The Chicago Fed National Activity index was 0.14 vs. past -0.43. In Japan, markets were closed on autumn’s holiday. Wall Street closed with losses with the Dow down 0.29%, the Nasdaq down 0.22% and the S&P 500 down 0.46%.
USD/JPY Technical Levels
Technically speaking, the pair remains glued to the grounds by bearish pressure below the 99.00 zone. Finding grounds after the collapse from 100.50 zone two weeks ago, the pair extends the downward trendline that started last Friday. Offered at 99.73, the pair oscillates between supports aligned at 98.73 (September 16th lows), 98.45 (September 13th lows) followed by 98.16 (September 19th lows) and resistances set at 99.00 (September 17th lows), 99.32 (September 18th highs) followed by 99.66 (September 20th highs). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis and is offered below the EMA20.
Bearish Monday
Earlier in the US, the Markit Manufacturing PMI for September was 52.8 vs. past 53.1 and expected 54. The Chicago Fed National Activity index was 0.14 vs. past -0.43. In Japan, markets were closed on autumn’s holiday. Wall Street closed with losses with the Dow down 0.29%, the Nasdaq down 0.22% and the S&P 500 down 0.46%.
USD/JPY Technical Levels
Technically speaking, the pair remains glued to the grounds by bearish pressure below the 99.00 zone. Finding grounds after the collapse from 100.50 zone two weeks ago, the pair extends the downward trendline that started last Friday. Offered at 99.73, the pair oscillates between supports aligned at 98.73 (September 16th lows), 98.45 (September 13th lows) followed by 98.16 (September 19th lows) and resistances set at 99.00 (September 17th lows), 99.32 (September 18th highs) followed by 99.66 (September 20th highs). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis and is offered below the EMA20.