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19 Aug 2013
USD/JPY opens up fresh highs
FXstreet.com (New York) - The USD/JPY foreign exchange rate has crept upwards to session highs Monday, having moved in the absence of any economic data out of Japan.
USD/JPY strategic bias
According to Jim Langlands at FX Charts, “On the topside, if the USD/JPY heads above 98.00, the dollar would run into sellers at 98.75 (daily cloud base) and then at the 200-day MA at 98.80, and so should prove pretty strong resistance. A topside break of this though, would see a run towards the top of the triangle resistance at around 99.50, which again would be strong, and I don’t think we are in line for a test of 100 for the time being. On the downside, below 97.00 would see buyers at minor Fibo support at 96.70 and then at the triangle base, currently at 96.20 and at last week’s 95.90 low.”
USD/JPY technical levels
The USD/JPY has remained below the 98.00 level thus far during Asian trading, now settling at 97.84 in these moments. Technically speaking, the USD/JPY will test resistances at 97.85, onto 98.20, and 98.80, notes Valeria Bednarik, an analyst at FXstreet.com.
USD/JPY strategic bias
According to Jim Langlands at FX Charts, “On the topside, if the USD/JPY heads above 98.00, the dollar would run into sellers at 98.75 (daily cloud base) and then at the 200-day MA at 98.80, and so should prove pretty strong resistance. A topside break of this though, would see a run towards the top of the triangle resistance at around 99.50, which again would be strong, and I don’t think we are in line for a test of 100 for the time being. On the downside, below 97.00 would see buyers at minor Fibo support at 96.70 and then at the triangle base, currently at 96.20 and at last week’s 95.90 low.”
USD/JPY technical levels
The USD/JPY has remained below the 98.00 level thus far during Asian trading, now settling at 97.84 in these moments. Technically speaking, the USD/JPY will test resistances at 97.85, onto 98.20, and 98.80, notes Valeria Bednarik, an analyst at FXstreet.com.