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20 Aug 2013
USD/JPY, whipsawed gains; falling through the cracks
FXstreet.com (Chicago) - USD/JPY retraced from 97.86 zone and heads downward to partially erase earlier gains. Up 0.04% so far, the expectations are set for irrational volatility as little official data is to be released early this week.
Less is more: paradox of choice
Price action evidences high swings from tops to bottoms and bottoms to tops ahead of Japanese industry data to be released at 4:30 GMT. Repeating similar price patterns, the pair has reached tops to erase earlier gains as yesterday’s session closed almost flat after temporary and ephemeral gains at 0.40%.
From wins to losses
The pair continues cracking downward to trade at 97.55 between supports at 97.51 (August 6th lows), 97.22 (August 16th lows) and 97.00 (August 16th lows) and resistances aligned at 97.81 (June 26th lows), 98.00 (July 28th lows) followed by 98.30 (July 11th lows).
According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis with a neutral EMA20.
Less is more: paradox of choice
Price action evidences high swings from tops to bottoms and bottoms to tops ahead of Japanese industry data to be released at 4:30 GMT. Repeating similar price patterns, the pair has reached tops to erase earlier gains as yesterday’s session closed almost flat after temporary and ephemeral gains at 0.40%.
From wins to losses
The pair continues cracking downward to trade at 97.55 between supports at 97.51 (August 6th lows), 97.22 (August 16th lows) and 97.00 (August 16th lows) and resistances aligned at 97.81 (June 26th lows), 98.00 (July 28th lows) followed by 98.30 (July 11th lows).
According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis with a neutral EMA20.