11 Jul 2013
USD/JPY succumbs below 99 handle
FXstreet.com (Barcelona) - The USD/JPY foreign exchange rate is last trading at 99.11 off recent session lows at 98.95, following dovish comments coming from FED Bernanke, rising doubts about the end of QE anytime soon.
USD/JPY a medium term buy at 99.00/98.70
“I would not really care to put a range on it today, but I think that in the medium term, any dips towards 99.00/98.70 are probably a medium term buy as the direction in policy between the BOJ and the Fed begins to diverge,” said FX Charts analyst Jim Langlands.
USD/JPY key technical levels
Immediate support to the downside for USD/JPY lies at recent session/weekly lows 98.94, followed by June 24 highs at 98.71, and June 20 highs at 98.28. To the upside, closest resistance shows at July 03 lows 99.23, followed by June 10 highs at 99.30, and July 04 lows at 99.50.
USD/JPY a medium term buy at 99.00/98.70
“I would not really care to put a range on it today, but I think that in the medium term, any dips towards 99.00/98.70 are probably a medium term buy as the direction in policy between the BOJ and the Fed begins to diverge,” said FX Charts analyst Jim Langlands.
USD/JPY key technical levels
Immediate support to the downside for USD/JPY lies at recent session/weekly lows 98.94, followed by June 24 highs at 98.71, and June 20 highs at 98.28. To the upside, closest resistance shows at July 03 lows 99.23, followed by June 10 highs at 99.30, and July 04 lows at 99.50.