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12 Sep 2013
USD/JPY cannot orchestrate recovery, 99.00 in jeopardy?
FXstreet.com (Lisbon) - The USD/JPY foreign exchange rate refused to allay any immediate concerns of a prolonged fall below 99.00, higher despite several tepid attempts at recovery during European trading.
USD/JPY technical levels
At this juncture, the USD/JPY has moved to the 99.34 level, which places it at a staunch -0.53% off on the day Thursday (earlier lows at 99.19). Glancing at the technicals, the USD/JPY remains fortified above supports at 99.34, ahead of 99.01, and 98.75, suggests the Danske Research Team.
USD/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/JPY failed earlier expectations yesterday as the dollar sharply weakened versus the Japanese yen, and trading with the kick-start of trading today around 61.8% correction at 99.35. We expect the downside move to extend, especially as Linear Regression Indicators turned lower and RSI is trading below 50. Despite intraday overbought signals on the stochastic, we will ignore the signals with stability below 100.30 the 78.6% correction.”
USD/JPY technical levels
At this juncture, the USD/JPY has moved to the 99.34 level, which places it at a staunch -0.53% off on the day Thursday (earlier lows at 99.19). Glancing at the technicals, the USD/JPY remains fortified above supports at 99.34, ahead of 99.01, and 98.75, suggests the Danske Research Team.
USD/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/JPY failed earlier expectations yesterday as the dollar sharply weakened versus the Japanese yen, and trading with the kick-start of trading today around 61.8% correction at 99.35. We expect the downside move to extend, especially as Linear Regression Indicators turned lower and RSI is trading below 50. Despite intraday overbought signals on the stochastic, we will ignore the signals with stability below 100.30 the 78.6% correction.”