8 Jul 2013
USD/JPY surrenders its grip on 101.00 level
FXstreet.com (New York) - The USD/JPY technical pair moved below 101.00 Monday, establishing fresh lows in recent moments at 100.88.
USD/JPY falls to session lows
At the time of writing, the USD/JPY has edged lower to the 100.90, still now incurring losses of -0.33% on the day. “The USD/JPY extended its strength this morning and the potential is for the test of key resistance at 103.74. Support is at 99.26, suggesting a bullish intraday outlook.” notes Gareth Berry, a Research Analyst at UBS.
USD/JPY breaching 101.60 may extend positivity
According to the Technical Analyst Team at ICN.com, “The USD/JPY extended its bullishness until it touched levels close to 78.6% correction. The referred to level is a significant interval for this week especially that the upside move was between diagonal support and resistance levels, which threatens to form a negative Rising Wedge Pattern if the pair broke 99.95 this week; while breaching 101.60 might extend positivity.”
USD/JPY falls to session lows
At the time of writing, the USD/JPY has edged lower to the 100.90, still now incurring losses of -0.33% on the day. “The USD/JPY extended its strength this morning and the potential is for the test of key resistance at 103.74. Support is at 99.26, suggesting a bullish intraday outlook.” notes Gareth Berry, a Research Analyst at UBS.
USD/JPY breaching 101.60 may extend positivity
According to the Technical Analyst Team at ICN.com, “The USD/JPY extended its bullishness until it touched levels close to 78.6% correction. The referred to level is a significant interval for this week especially that the upside move was between diagonal support and resistance levels, which threatens to form a negative Rising Wedge Pattern if the pair broke 99.95 this week; while breaching 101.60 might extend positivity.”