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9 Aug 2013
USD/JPY stalls below 96.46 zone
FXstreet.com (Chicago) - USD/JPY failed to break above 96.46 zone after bouncing off lows on Friday afternoon.
Price action indicates the pair accumulates 0.38% daily losses as early attempts to recover lost ground have been unsuccessful so far. Amid speculations on Fed’s stimulus package, American stocks trade in red with the Dow down 0.34%, the Nasdaq accumulating 1.18% losses and the S&P down 0.28%.
According to the FXstreet trend index, the pair is strongly bullish on one-hour timeframe analysis. On the downside, supports are set at 96.10 (August 7th lows), 95.78 (June 29th highs) followed by 95.58 (June 13th highs) and resistances are aligned at 96.46 (June 9th lows), 96.66 (June 6th highs) ahead of 96.88 (June 21st lows) with a pair trading at 96.35.
Price action indicates the pair accumulates 0.38% daily losses as early attempts to recover lost ground have been unsuccessful so far. Amid speculations on Fed’s stimulus package, American stocks trade in red with the Dow down 0.34%, the Nasdaq accumulating 1.18% losses and the S&P down 0.28%.
According to the FXstreet trend index, the pair is strongly bullish on one-hour timeframe analysis. On the downside, supports are set at 96.10 (August 7th lows), 95.78 (June 29th highs) followed by 95.58 (June 13th highs) and resistances are aligned at 96.46 (June 9th lows), 96.66 (June 6th highs) ahead of 96.88 (June 21st lows) with a pair trading at 96.35.