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12 Sep 2013
USD/JPY resumes fall and hits weekly low
FXstreet.com (Córdoba) - Following a sudden bounce following upbeat US employment data, the USD/JPY resumed the downside and fell to fresh daily lows during the New York session.
USD/JPY finally closed its weekly opening gap Thursday, having dropped more than 150 pips over the last sessions, after being rejected from a high of 100.60 on Wednesday. With the latest recovery attempt capped by 99.70, USD/JPY turned back lower and dropped to a weekly low of 99.06.
USD/JPY levels to watch
At time of writing, USD/JPY is trading at the 99.20 zone, where it records a 0.7% loss on the day. If USD/JPY breaks below the 99.05/99.00 zone (daily low/100-day SMA), next supports are seen at 98.53 (Sep 6 low) and 98.27 (Sep 2 low). On the flip side, resistances are seen at 99.70 (200-hour SMA) and 100.00 ((psychological level).
USD/JPY finally closed its weekly opening gap Thursday, having dropped more than 150 pips over the last sessions, after being rejected from a high of 100.60 on Wednesday. With the latest recovery attempt capped by 99.70, USD/JPY turned back lower and dropped to a weekly low of 99.06.
USD/JPY levels to watch
At time of writing, USD/JPY is trading at the 99.20 zone, where it records a 0.7% loss on the day. If USD/JPY breaks below the 99.05/99.00 zone (daily low/100-day SMA), next supports are seen at 98.53 (Sep 6 low) and 98.27 (Sep 2 low). On the flip side, resistances are seen at 99.70 (200-hour SMA) and 100.00 ((psychological level).