23 Oct 2013
USD/JPY trims losses
FXstreet.com (Córdoba) - Following a steep decline, the USD/JPY managed to bounce from a 2-week low of 97.15 and is trimming losses ahead of the NY opening.
USD/JPY briefly dips below 200-day SMA
The USD/JPY fell more than 100 pips and slid briefly below the 200-day SMA, weighed by negative sentiment in markets. However, the pair recovered some ground over the last hours to currently trade around 97.50, still 0.6% below its opening price.
In the data front, US Import prices rose 0.2% in September (in line with expectations), while export prices rose 0.3% (vs 0.0% exp), having virtually no impact on the USD/JPY.
USD/JPY levels to watch
As for technical levels, the USD/JPY could find next resistances at 97.70 (20-day SMA) and 98.18 (daily high), while supports are seen at 97.26 (200-day SMA), 97.15 (daily low) and 97.00 (psychological level).
USD/JPY briefly dips below 200-day SMA
The USD/JPY fell more than 100 pips and slid briefly below the 200-day SMA, weighed by negative sentiment in markets. However, the pair recovered some ground over the last hours to currently trade around 97.50, still 0.6% below its opening price.
In the data front, US Import prices rose 0.2% in September (in line with expectations), while export prices rose 0.3% (vs 0.0% exp), having virtually no impact on the USD/JPY.
USD/JPY levels to watch
As for technical levels, the USD/JPY could find next resistances at 97.70 (20-day SMA) and 98.18 (daily high), while supports are seen at 97.26 (200-day SMA), 97.15 (daily low) and 97.00 (psychological level).