8 Nov 2013
USD/JPY settles above 98.00
FXstreet.com (Córdoba) - The USD/JPY as most pairs in the FX market has spent the day in a slim range as investors refrain from taking big positions ahead of the next risk event, the US nonfarm payrolls.
The USD/JPY rallied to a high of 99.40 Thursday, propelled by better-than-expected US GDP data, but failed to sustain gains and retreated all the way back to 97.60 before finding support and recovering somewhat. The pair finally settled above 98.00 and it is currently trading at 98.20, 0.1% above its opening price.
USD/JPY levels to watch
AS for technical levels, the USD/JPY could find immediate resistances at 98.25 (daily high), 98.75 (Nov 6 high) and 99.40 (Nov 7 high). On the downside, supports are seen at 98.03 (daily low) and 97.62 (Nov 7 low).
The USD/JPY rallied to a high of 99.40 Thursday, propelled by better-than-expected US GDP data, but failed to sustain gains and retreated all the way back to 97.60 before finding support and recovering somewhat. The pair finally settled above 98.00 and it is currently trading at 98.20, 0.1% above its opening price.
USD/JPY levels to watch
AS for technical levels, the USD/JPY could find immediate resistances at 98.25 (daily high), 98.75 (Nov 6 high) and 99.40 (Nov 7 high). On the downside, supports are seen at 98.03 (daily low) and 97.62 (Nov 7 low).