31 May 2013
USD/JPY bounces off lows to trade flat
FXstreet.com (Córdoba) - After falling to a 3-week low in the wake of lower-than-expected US personal spending and income, the dollar found support and trimmed losses, supported by above expectations Chicago PMI.
USD/JPY has climbed more than 60 pips within the last hours, recovering from a low of 100.20 to a session high of 100.84 before easing a tad. At time of writing, USD/JPY is trading around 100.75/80, where it is virtually unchanged since opening.
As for technical levels, Valeria Bednarik, chief analyst at FXstreet.com locates immediate supports at 100.25, 100.00 and 99.70, while she sees resistances at 100.65, 101.00 and 101.25.
USD/JPY has climbed more than 60 pips within the last hours, recovering from a low of 100.20 to a session high of 100.84 before easing a tad. At time of writing, USD/JPY is trading around 100.75/80, where it is virtually unchanged since opening.
As for technical levels, Valeria Bednarik, chief analyst at FXstreet.com locates immediate supports at 100.25, 100.00 and 99.70, while she sees resistances at 100.65, 101.00 and 101.25.