23 Oct 2013
USD/JPY flattening grounds below 97.35
FXstreet.com (Chicago) - USD/JPY has lost 0.85% today so far ahead of Wall Street’s closing for a total weekly loss at -0.45%.
Yen sell-off?
Latest comments on pair’s action by Bank of America “While we don’t like sounding like a broken record (or like the boy who cried wolf), the evidence continues to say ‘sell yen’.” Earlier data releases in the US indicates there is a decline in MBA mortgage applications at -0.6% vs. past 0.3% with export price index results (YoY) at -1.6%.
USD/JPY Technical Levels
Technically speaking, the pair is offered at 97.28 and oscillates between the supports aligned at 97.20 (October 2nd lows), 96.81 (October 8th lows) ahead of 96.39 (August 10th lows) and the resistances set at 97.54 (October 17th lows), 98 (October 15th lows) followed by 98.46 (October 21st highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.
Yen sell-off?
Latest comments on pair’s action by Bank of America “While we don’t like sounding like a broken record (or like the boy who cried wolf), the evidence continues to say ‘sell yen’.” Earlier data releases in the US indicates there is a decline in MBA mortgage applications at -0.6% vs. past 0.3% with export price index results (YoY) at -1.6%.
USD/JPY Technical Levels
Technically speaking, the pair is offered at 97.28 and oscillates between the supports aligned at 97.20 (October 2nd lows), 96.81 (October 8th lows) ahead of 96.39 (August 10th lows) and the resistances set at 97.54 (October 17th lows), 98 (October 15th lows) followed by 98.46 (October 21st highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.