25 Jun 2013
USD/JPY still in the negative for the week
FXstreet.com (Barcelona) - USD/JPY is last quoting at 97.68, unchanged for last 16 hours since early NY trade, when the pair was falling from London session highs at 98.34. The pair is off recent session lows at 97.46, while Nikkei index opens in Tokyo flat around the 13k mark.
100 level in sight
USD/JPY has broken above a previous descending trendline coming from latest multi-year highs above the 103 mark, says CMT and FXTimes analyst Fan Yang, who adds: “The current breakout opens up the 99.90-100 area unless we have an immediate rejection here from 98.75-99.00 area back below a near-term rising trendline.”
Key technical levels
Immediate resistance to the upside for USD/JPY shows at Friday's highs 98.14, followed by Thursday's highs at 98.29, and almost 2-week yesterday's highs at 98.72. To the downside, closest support lies at session lows 97.46, followed by weekly lows at 97.20, and Friday's lows at 96.85.
100 level in sight
USD/JPY has broken above a previous descending trendline coming from latest multi-year highs above the 103 mark, says CMT and FXTimes analyst Fan Yang, who adds: “The current breakout opens up the 99.90-100 area unless we have an immediate rejection here from 98.75-99.00 area back below a near-term rising trendline.”
Key technical levels
Immediate resistance to the upside for USD/JPY shows at Friday's highs 98.14, followed by Thursday's highs at 98.29, and almost 2-week yesterday's highs at 98.72. To the downside, closest support lies at session lows 97.46, followed by weekly lows at 97.20, and Friday's lows at 96.85.