10 Oct 2013
USD/JPY consolidates breakout above 97.45
FXstreet.com (Chicago) - USD/JPY broke above the immediate resistance at 97.44 shortly before Tokyo’s opening and on release of Japanese data. Extending the upward trendline that started last Friday, the pair flows on inconclusive takeoff.
After the nomination of Yellen as the new Chairman of the Fed and the White House announcement of a potential solution to the shutdown, market participants digest latest releases that surprised positively in Japan.
USD/JPY Technical Levels
Technically speaking, the pair trades at 97.47 and oscillates between supports aligned at 96.92 (October 3rd lows), 96.41 (August 10th lows) followed by 95.92 (August 9th lows) and above the resistance set at 97.44 (October 4th highs) to now face 97.83 (September 18th highs) ahead of 98.34 (September 25th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.
After the nomination of Yellen as the new Chairman of the Fed and the White House announcement of a potential solution to the shutdown, market participants digest latest releases that surprised positively in Japan.
USD/JPY Technical Levels
Technically speaking, the pair trades at 97.47 and oscillates between supports aligned at 96.92 (October 3rd lows), 96.41 (August 10th lows) followed by 95.92 (August 9th lows) and above the resistance set at 97.44 (October 4th highs) to now face 97.83 (September 18th highs) ahead of 98.34 (September 25th lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.