25 Jun 2013
USD/JPY retesting 98.00 as Nikkei jumps 1%
FXstreet.com (Barcelona) - With the Nikkei 225 up almost 1% and the declines in the Shangai SEC contained around 0.35%, the USD/JPY is tracking higher towards 98.00, with the highest level recorded at 98.04.
Technical levels
The next resistance level for the USD/JPY is found at 98.30 -June 20 highs - while intraday dip buyers may now take notice of 97.80 - intraday level - as 'value area' to add long positions, as the number converges with both the old-resistance-turned-new-support and the 20-EMA on the hourly. Above the 98.30, it would suggest an attack towards 98.70 is imminent. On the contrary, below the 97.80, it exposes 97.50 and 97.30 - intraday lows -.
Technical levels
The next resistance level for the USD/JPY is found at 98.30 -June 20 highs - while intraday dip buyers may now take notice of 97.80 - intraday level - as 'value area' to add long positions, as the number converges with both the old-resistance-turned-new-support and the 20-EMA on the hourly. Above the 98.30, it would suggest an attack towards 98.70 is imminent. On the contrary, below the 97.80, it exposes 97.50 and 97.30 - intraday lows -.