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12 Sep 2013
USD/JPY poised for short-term dip below 98.00?
FXstreet.com (Lisbon) - The USD/JPY foreign exchange rate traded lower Thursday, as it has been unable to get on track thus far during European trading, despite rebounding off earlier lows (99.19).
USD/JPY strategic bias
According to Karen Jones, an analyst at Commerzbank, “The USD/JPY has stalled at 100.62 and looks set for some further near-term weakness. There is a substantial divergence of the 240-minute RSI and we suspect that we will see some near term consolidation. Near term support remains to be seen along the 55-day ma at 98.90. The triangle remains valid above the 97.10 support line, but ideally we should now see dips hold circa 98.76.”
USD/JPY technical levels
Presently, the USD/JPY has is still trading negatively at -0.44% off its opening, operating at 99.49 in these moments. Briefing the technicals, the USD/JPY will encounter means of calculated support at 99.34, a break of which will open up 98.99 and 98.36, notes the Mataf.net analyst team.
USD/JPY strategic bias
According to Karen Jones, an analyst at Commerzbank, “The USD/JPY has stalled at 100.62 and looks set for some further near-term weakness. There is a substantial divergence of the 240-minute RSI and we suspect that we will see some near term consolidation. Near term support remains to be seen along the 55-day ma at 98.90. The triangle remains valid above the 97.10 support line, but ideally we should now see dips hold circa 98.76.”
USD/JPY technical levels
Presently, the USD/JPY has is still trading negatively at -0.44% off its opening, operating at 99.49 in these moments. Briefing the technicals, the USD/JPY will encounter means of calculated support at 99.34, a break of which will open up 98.99 and 98.36, notes the Mataf.net analyst team.