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25 Jun 2013
USD/JPY edges higher after US consumer confidence
FXstreet.com (Córdoba) - USD/JPY edged slightly higher but remained overall steady after the latest string of US data came in better-than expected and showed consumer confidence improved in June, beating expectations.
USD/JPY nears 98.00
The USD/JPY extended its recovery, reaching a fresh session high of 97.90 after strong confidence data, but has lacked momentum to regain the 98.00 mark so far. At time of writing, the pair is trading around 97.80, where it is virtually unchanged since opening.
According to Valeria Bednarik, chief analyst at FXstreet.com, the pair maintains the bearish tone in 4-hour charts, which suggests the upside will remain limited. "Still, a break below 96.80 is required to confirm the bearish continuation in the pair", Bednarik says.
USD/JPY nears 98.00
The USD/JPY extended its recovery, reaching a fresh session high of 97.90 after strong confidence data, but has lacked momentum to regain the 98.00 mark so far. At time of writing, the pair is trading around 97.80, where it is virtually unchanged since opening.
According to Valeria Bednarik, chief analyst at FXstreet.com, the pair maintains the bearish tone in 4-hour charts, which suggests the upside will remain limited. "Still, a break below 96.80 is required to confirm the bearish continuation in the pair", Bednarik says.