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2 Oct 2013
USD/JPY on retreat below 97.50
FXstreet.com (Chicago) - USD/JPY remains capped at 97.60 despite several attempts to break through the zone in the afternoon of the American trading session.
Data recap
Ahead of Bernanke and Bullard’s speeches starting at 7 GMT, market participants digest losing indexes in Wall Street with the extension of the US government shutdown. In earlier data, the ADP employment change was 166K vs. past 159K and expected 180K. MBA mortgage applications were -0.4% vs. past 5.5%.
USD/JPY Technical Levels
Past action reveals primary and secondary trends pointing down matched by the short-term trend that extends the bearish channel that started last September 10th on double peaks with July 19th. Offered at 97.38, the pair navigates between supports aligned at 96.92 (August 20th lows), 96.41 (August 13th lows) followed by 95.86 (August 12th lows) and the resistances set at 97.44 (September 30th lows), 98.34 (October 1st highs) ahead of 99.12 (September 25th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis below the EMA20.
Data recap
Ahead of Bernanke and Bullard’s speeches starting at 7 GMT, market participants digest losing indexes in Wall Street with the extension of the US government shutdown. In earlier data, the ADP employment change was 166K vs. past 159K and expected 180K. MBA mortgage applications were -0.4% vs. past 5.5%.
USD/JPY Technical Levels
Past action reveals primary and secondary trends pointing down matched by the short-term trend that extends the bearish channel that started last September 10th on double peaks with July 19th. Offered at 97.38, the pair navigates between supports aligned at 96.92 (August 20th lows), 96.41 (August 13th lows) followed by 95.86 (August 12th lows) and the resistances set at 97.44 (September 30th lows), 98.34 (October 1st highs) ahead of 99.12 (September 25th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis below the EMA20.