7 Aug 2013
USD/JPY trims intraday losses
FXstreet.com (Córdoba) - The USD/JPY managed to trim some of its intraday losses after touching a fresh 7-week low of 96.76 at the beginning of the European session.
USD/JPY regains 97.00
USD/JPY managed to regain the 97.00 mark and rose toward the 97.35 area but the 20-hour SMA offered resistance, halting the recovery. At time of writing, USD/JPY is trading at the 97.20 area, where it is 0.5% below its opening price.
The Yen remains in demand having risen for four consecutive days versus the greenback, as this latter weakened amid Fed taper talk.
USD/JPY technical levels
In terms of technical levels, immediate supports for USD/JPY are seen at 96.72 (61.8% retracement of 93.75-101.54), 96.20 (Jun 25 low) and 96.00 (psychological level). On the flip side, resistances could be found at 97.35 (20-hour SMA), 97.80 (daily high) and 98.00 (psychological level).
USD/JPY regains 97.00
USD/JPY managed to regain the 97.00 mark and rose toward the 97.35 area but the 20-hour SMA offered resistance, halting the recovery. At time of writing, USD/JPY is trading at the 97.20 area, where it is 0.5% below its opening price.
The Yen remains in demand having risen for four consecutive days versus the greenback, as this latter weakened amid Fed taper talk.
USD/JPY technical levels
In terms of technical levels, immediate supports for USD/JPY are seen at 96.72 (61.8% retracement of 93.75-101.54), 96.20 (Jun 25 low) and 96.00 (psychological level). On the flip side, resistances could be found at 97.35 (20-hour SMA), 97.80 (daily high) and 98.00 (psychological level).