24 Jun 2013
USD/JPY hits fresh lows for the day
FXstreet.com (Córdoba) - The USD/JPY has continued to extend losses at the beginning of the American session, weighed by a negative opening in Wall Street.
USD/JPY fails to hold above 98.00
USD/JPY was rejected by the 98.75 area during the European trade and after a phase of consolidation around 98.00, it came under fresh pressure and sipped to fresh daily lows sub-97.50. At time of writing, USD/JPY is trading at the 97.45 zone, still down 0.4% on the day, having scored a trough of 97.21 in recent dealings.
With the US calendar pretty much clear for the rest of the day, USD/JPY will likely continue to move in tandem with investors' sentiment.
As for technical levels, immediate supports for USD/JPY could be found at 97.20 (intraday low) and 97.00 (psychological level), while resistances are seen at 97.90/98.00 and 98.70 (daily high).
USD/JPY fails to hold above 98.00
USD/JPY was rejected by the 98.75 area during the European trade and after a phase of consolidation around 98.00, it came under fresh pressure and sipped to fresh daily lows sub-97.50. At time of writing, USD/JPY is trading at the 97.45 zone, still down 0.4% on the day, having scored a trough of 97.21 in recent dealings.
With the US calendar pretty much clear for the rest of the day, USD/JPY will likely continue to move in tandem with investors' sentiment.
As for technical levels, immediate supports for USD/JPY could be found at 97.20 (intraday low) and 97.00 (psychological level), while resistances are seen at 97.90/98.00 and 98.70 (daily high).