6 Sep 2013
USD/JPY crumbles to support as USD falls ahead of NFP
FXstreet.com (Lisbon) - The USD/JPY foreign exchange rate opened up fresh losses Friday morning during European trading, with the USD facing heavy pressure across the board, ahead of NFP in the United States later today.
USD/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/JPY’s upside move remained limited below 78.6% correction at 100.30 then moved back to the downside, as momentum indicators are showing the weak momentum of the pair. The pair is trading again below key resistance level of the ascending channel, which might trigger some bearish correction. Trading below 100.30 will be c.”
USD/JPY technical levels
The USD/JPY is presently getting annihilated Friday, incurring staunch losses of -0.56%, which places it near the 99.54 mark, establishing fresh lows. In terms of the technical levels, the USD/JPY is pointed lower and looks to face support at 99.56, onto 99.23, and 98.91, calculates the Danske Research team.
USD/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/JPY’s upside move remained limited below 78.6% correction at 100.30 then moved back to the downside, as momentum indicators are showing the weak momentum of the pair. The pair is trading again below key resistance level of the ascending channel, which might trigger some bearish correction. Trading below 100.30 will be c.”
USD/JPY technical levels
The USD/JPY is presently getting annihilated Friday, incurring staunch losses of -0.56%, which places it near the 99.54 mark, establishing fresh lows. In terms of the technical levels, the USD/JPY is pointed lower and looks to face support at 99.56, onto 99.23, and 98.91, calculates the Danske Research team.