16 Oct 2013
USD/JPY consolidates above 98.60
FXstreet.com (Chicago) - USD/JPY seems to get stronger at Tokyo’s opening after negotiations go on despite “closed deal” yesterday.
No deal was reached yesterday and Fitch announced the potential rating downgrade for the US from AAA to lower levels. The yen started weak against the greenback that is pushed up by risk takers.
USD/JPY Technical Levels
Technically speaking, the pair is offered at 98.56 and oscillates between supports aligned at 98.34 (October 10th highs) to now face 97.83 (October 3rd highs) and 97.44 (October 4th highs) and the resistances set at 98.75 (September 29th highs), 99.16 (September 26th highs) followed by 99.68 (September 19th highs). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis below the EMA20.
No deal was reached yesterday and Fitch announced the potential rating downgrade for the US from AAA to lower levels. The yen started weak against the greenback that is pushed up by risk takers.
USD/JPY Technical Levels
Technically speaking, the pair is offered at 98.56 and oscillates between supports aligned at 98.34 (October 10th highs) to now face 97.83 (October 3rd highs) and 97.44 (October 4th highs) and the resistances set at 98.75 (September 29th highs), 99.16 (September 26th highs) followed by 99.68 (September 19th highs). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis below the EMA20.