2 Jul 2013
USD/JPY breaks above 100.00
FXstreet.com (Córdoba) - The USD/JPY picked up fresh momentum and managed to break above the 99.90/100.00 resistance area to reach its highest in 4 weeks at the beginning of the American session.
USD/JPY reaches 4-week high
With no clear catalyst other that USD buying interest, USD/JPY soared to a peak of 100.30, last seen Jun 5, before finding resistance. At time of writing, USD/JPY is trading around 100.25, where it records a 0.6% gain on the day, with the US Redbook release having no impact on the pair.
Investors will now be watching US May factory orders, June New York ISM, and June vehicle sales data.
In terms of technical levels, immediate resistance levels now line up at 100.45 (daily high Jun 5) and 100.73 (Jun 3 high), while supports are seen at 99.50 (intraday low) and 99.15 (Jul 1 low).
USD/JPY reaches 4-week high
With no clear catalyst other that USD buying interest, USD/JPY soared to a peak of 100.30, last seen Jun 5, before finding resistance. At time of writing, USD/JPY is trading around 100.25, where it records a 0.6% gain on the day, with the US Redbook release having no impact on the pair.
Investors will now be watching US May factory orders, June New York ISM, and June vehicle sales data.
In terms of technical levels, immediate resistance levels now line up at 100.45 (daily high Jun 5) and 100.73 (Jun 3 high), while supports are seen at 99.50 (intraday low) and 99.15 (Jul 1 low).