4 Jul 2013
USD/JPY falls below 100.00 level ahead of Kuroda
FXstreet.com (New York) - The USD/JPY technical pair has recently lost its grip ahead of the Kuroda speech within the hour, and on the heels of recent Japanese data during Asian trading.
USD/JPY faces plethora of stimuli during Asian session
In Japan, Foreign bond investment (June 28) was reported at ¥-965.9B, compared with a figure of ¥-1,187.5B previously. In addition, Foreign Investment in Japanese stocks (June 28) yielded a figure of ¥479.7B, relative to ¥171.2B previously. Later today at 00:30 GMT, BOJ Governor, Kuroda will be speaking, which will likely to keep the pressure on the JPY.
In these moments, the USD/JPY is operating at a minor gain of +0.01%, settling at 99.92 at the time of writing. Consistent with the calculations of Valeria Bednarik at FXstreet, the USD/JPY will encounter resistive means at 100.00, onto 100.30, and ultimately 100.70
USD/JPY break lower possible
According to Jim Langlands at FX Charts, “The 4-hour USD/JPY charts are pointing a little lower and we may yet see a retest of the rising trend support, now at around 99.65. Below this would see a return towards 99.15 (23.6% of 97.78/100.72) and possibly 98.75 (50% pivot of 93.78/103.73).”
USD/JPY faces plethora of stimuli during Asian session
In Japan, Foreign bond investment (June 28) was reported at ¥-965.9B, compared with a figure of ¥-1,187.5B previously. In addition, Foreign Investment in Japanese stocks (June 28) yielded a figure of ¥479.7B, relative to ¥171.2B previously. Later today at 00:30 GMT, BOJ Governor, Kuroda will be speaking, which will likely to keep the pressure on the JPY.
In these moments, the USD/JPY is operating at a minor gain of +0.01%, settling at 99.92 at the time of writing. Consistent with the calculations of Valeria Bednarik at FXstreet, the USD/JPY will encounter resistive means at 100.00, onto 100.30, and ultimately 100.70
USD/JPY break lower possible
According to Jim Langlands at FX Charts, “The 4-hour USD/JPY charts are pointing a little lower and we may yet see a retest of the rising trend support, now at around 99.65. Below this would see a return towards 99.15 (23.6% of 97.78/100.72) and possibly 98.75 (50% pivot of 93.78/103.73).”