15 Oct 2013
USD/JPY consolidates above 100 DMA
FXstreet.com (Córdoba) - The USD/JPY continues to consolidate above the 100-day SMA and near its weekly highs, boosted by optimism of a US budget deal that would re-open the federal government and avoid a default.
However, despite a couple of attempts today, the USD/JPY lacked momentum to break above the 98.70 zone, and settled in a slim range just below. At time of writing, USD/JPY is trading at the 98.55 zone, virtually unchanged since opening.
USD/JPY levels to watch
In terms of technical levels, if USD/JPY breaks above 98.70, next resistances could be found at 99.00 (psychological level) and 99.14 (Sep 26 high). On the other hand, supports are seen at 98.20 (21-day SMA) and 98.00 (psychological level) followed by 97.60 (10-day SMA).
However, despite a couple of attempts today, the USD/JPY lacked momentum to break above the 98.70 zone, and settled in a slim range just below. At time of writing, USD/JPY is trading at the 98.55 zone, virtually unchanged since opening.
USD/JPY levels to watch
In terms of technical levels, if USD/JPY breaks above 98.70, next resistances could be found at 99.00 (psychological level) and 99.14 (Sep 26 high). On the other hand, supports are seen at 98.20 (21-day SMA) and 98.00 (psychological level) followed by 97.60 (10-day SMA).