29 Oct 2013
USD/JPY reaches 98.00
FXstreet.com (Córdoba) - The USD/JPY continued to push higher and printed yet another weekly high at 98.00 at the beginning of the American session after data showed US retail sales unexpectedly declined in September.
The USD/JPY reached a high of 98.00 but the psychological level held as resistance forcing the pair lower. At time of writing, USD/JPY is trading at the 97.90 area, still 0.3% above its opening price. Separated data showed US home prices rose 12.8% in September against 12.5% expected.
USD/JPY levels to watch
If USD/JPY manages to break decisively above 98.00, next resistances could be found at 98.18 (Oct 23 high) and 98.35 (10-day SMA), while supports are now seen at 97.45 (daily low) and 97.15 (Oct 23 low) ahead of 96.93 (Oct 25 low).
The USD/JPY reached a high of 98.00 but the psychological level held as resistance forcing the pair lower. At time of writing, USD/JPY is trading at the 97.90 area, still 0.3% above its opening price. Separated data showed US home prices rose 12.8% in September against 12.5% expected.
USD/JPY levels to watch
If USD/JPY manages to break decisively above 98.00, next resistances could be found at 98.18 (Oct 23 high) and 98.35 (10-day SMA), while supports are now seen at 97.45 (daily low) and 97.15 (Oct 23 low) ahead of 96.93 (Oct 25 low).