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2 Oct 2013
USD/JPY gives up 98.00 front
FXstreet.com (Chicago) - USD/JPY smashed two supports on its way down below the 98.00 zone extending the bearish channel that started at the Asian opening.
Unresolved affairs
With an unresolved situation in the US in regards to country’s spending and ahead of October 19th deadline for the US deficit, the yen beats the greenback sending the pair to 0.22% weekly losses so far. Expecting NFP data this Friday and job market results also this week, the Nikkei erases earlier 0.43% gains and prints 0.50% losses so far.
USD/JPY Technical Levels
Technically speaking, the pair trades at 97.93 and oscillates between the supports aligned at 97.44 (September 30th lows), 96.92 (August 27th lows) ahead of 96.41 (August 10th lows) and the resistances set at 98.34 (September 30th highs), 99.12 (September 26th highs) followed by 99.69 (September 19th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis with a neutral EMA20.
Unresolved affairs
With an unresolved situation in the US in regards to country’s spending and ahead of October 19th deadline for the US deficit, the yen beats the greenback sending the pair to 0.22% weekly losses so far. Expecting NFP data this Friday and job market results also this week, the Nikkei erases earlier 0.43% gains and prints 0.50% losses so far.
USD/JPY Technical Levels
Technically speaking, the pair trades at 97.93 and oscillates between the supports aligned at 97.44 (September 30th lows), 96.92 (August 27th lows) ahead of 96.41 (August 10th lows) and the resistances set at 98.34 (September 30th highs), 99.12 (September 26th highs) followed by 99.69 (September 19th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis with a neutral EMA20.