15 Nov 2013
USD/JPY stalls around 100.20
FXstreet.com (Chicago) - USD/JPY retraced from 100.45 and has been trading around the 100.25 zone since then ahead of Wall Street’s closing. 0.25% stronger, the pair accumulates 122 weekly pips gained so far.
Data recap
Earlier in the US, data released disappointed. Export price index results were -2.1% vs. past -1.6%. Import price index results were -2% vs. prior -1%. The NY Empire State Manufacturing Index was -2.21 vs. prior 1.52 while industrial production was -0.1% vs. estimates at 0.2%. Capacity utilization was 78.1% vs. prior and expected 78.3%. The results come aligned with Yellen’s and Bernanke’s dovish visions on the US economy, generating bullishness towards the greenback.
USD/JPY Technical Levels
Price action reveals the pair stalls around the 100.20 zone and is now offered at 100.26 oscillating between the supports aligned at 100 (September 1st highs), 99.36 (November 7th highs) followed by 99 (November 11th lows) and the resistances aligned 100.63 (September 18th highs), 101.44 (July 4th highs) ahead of 102.60 (May 28th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and navigates above the EMA20.
Data recap
Earlier in the US, data released disappointed. Export price index results were -2.1% vs. past -1.6%. Import price index results were -2% vs. prior -1%. The NY Empire State Manufacturing Index was -2.21 vs. prior 1.52 while industrial production was -0.1% vs. estimates at 0.2%. Capacity utilization was 78.1% vs. prior and expected 78.3%. The results come aligned with Yellen’s and Bernanke’s dovish visions on the US economy, generating bullishness towards the greenback.
USD/JPY Technical Levels
Price action reveals the pair stalls around the 100.20 zone and is now offered at 100.26 oscillating between the supports aligned at 100 (September 1st highs), 99.36 (November 7th highs) followed by 99 (November 11th lows) and the resistances aligned 100.63 (September 18th highs), 101.44 (July 4th highs) ahead of 102.60 (May 28th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and navigates above the EMA20.