27 Jun 2013
USD/JPY climbs to session highs
Fxstreet.com (Edinburgh) - The USD rally is resuming its march on Thursday, pushing the USD/JPY to the area of 98.40/50, printing at the same time session highs and trading near weekly peaks.
USD/JPY extends the bounce off 94.00
The pair is thus prolonging the correction higher sparked in mid June, climbing from multi-week lows around 94.00. “The yen negative Abenomics expectations may continue to support USD/JPY and Nikkei buying. USD/JPY may struggle to gain further upward momentum ahead of the NFP payrolls report and Independence Day holiday in the US”, suggested the research team at BTMU.
USD/JPY levels to watch
As of writing, the pair is up 0.69% at 98.43 with the next hurdle at 98.66 (Kijun-Sen line) followed by 98.72 (high Jun.24) and then 98.75 (weekly Tenkan line). On the breakdown, a dip beyond 97.57 (low Jun.27) would open the door to 97.51 (MA21d) and then 97.24 (low Jun.26).
USD/JPY extends the bounce off 94.00
The pair is thus prolonging the correction higher sparked in mid June, climbing from multi-week lows around 94.00. “The yen negative Abenomics expectations may continue to support USD/JPY and Nikkei buying. USD/JPY may struggle to gain further upward momentum ahead of the NFP payrolls report and Independence Day holiday in the US”, suggested the research team at BTMU.
USD/JPY levels to watch
As of writing, the pair is up 0.69% at 98.43 with the next hurdle at 98.66 (Kijun-Sen line) followed by 98.72 (high Jun.24) and then 98.75 (weekly Tenkan line). On the breakdown, a dip beyond 97.57 (low Jun.27) would open the door to 97.51 (MA21d) and then 97.24 (low Jun.26).