25 Jul 2013
USD/JPY trading at 100.30 region
FXstreet.com (New York) - The USD/JPY foreign exchange rate has eased off its highs (100.40) during Asian trading, refusing to move lower Thursday morning.
At the time of writing, the USD/JPY is trading with a slight gain, up +0.02% above its opening as it settles at 100.31. In terms of the technical levels, the USD/JPY remains solidified by supports at 100.17 (55-day MA), ahead of 99.93 (July 19 low), and 99.79 (200-day SMA). Conversely, a rise in the pair will face resistance at 100.40 (July 24 high/session high), onto 100.61 (July 18 high), and 100.82 (July 19 high).
USD/JPY strategic bias
According to Jim Langlands at FX Charts, “There is little to add today to USD/JPY as it continues to consolidate close to 100.00, and with today’s range being 99.37/100.43, the technical parameters to watch remain pretty much unchanged. Below today’s low, further support would be seen at 99.20, below which would find further bids at 99.00 and then at 98.70. Under here, 98.20 and then the more distant rising trend support line at 98.00 provide further support, but look unlikely to be seen for a while.”
At the time of writing, the USD/JPY is trading with a slight gain, up +0.02% above its opening as it settles at 100.31. In terms of the technical levels, the USD/JPY remains solidified by supports at 100.17 (55-day MA), ahead of 99.93 (July 19 low), and 99.79 (200-day SMA). Conversely, a rise in the pair will face resistance at 100.40 (July 24 high/session high), onto 100.61 (July 18 high), and 100.82 (July 19 high).
USD/JPY strategic bias
According to Jim Langlands at FX Charts, “There is little to add today to USD/JPY as it continues to consolidate close to 100.00, and with today’s range being 99.37/100.43, the technical parameters to watch remain pretty much unchanged. Below today’s low, further support would be seen at 99.20, below which would find further bids at 99.00 and then at 98.70. Under here, 98.20 and then the more distant rising trend support line at 98.00 provide further support, but look unlikely to be seen for a while.”