29 Oct 2013
USD/JPY hits 1-week high
FXstreet.com (Córdoba) - The USD/JPY picked up momentum and extended gains to fresh highs at the beginning of the American session as the yen falls across the board.
USD/JPY threatens 98.00
The USD/JPY broke above the 97.75/80 area where the 200-hour SMA and yesterday's highs converge, and rose to a fresh 1-week high of 97.96 in recent dealings. At time of writing, USD/JPY is trading at the 97.90 zone, recording a 0.3% gain on the day.
USD/JPY technical levels
In terms of technical levels, next resistances are now seen at 98.00 (psychological level) and 98.18 (Oct 23 high), while supports are now seen at 97.45 (daily low) and 97.15 (Oct 23 low) ahead of 96.93 (Oct 25 low).
USD/JPY threatens 98.00
The USD/JPY broke above the 97.75/80 area where the 200-hour SMA and yesterday's highs converge, and rose to a fresh 1-week high of 97.96 in recent dealings. At time of writing, USD/JPY is trading at the 97.90 zone, recording a 0.3% gain on the day.
USD/JPY technical levels
In terms of technical levels, next resistances are now seen at 98.00 (psychological level) and 98.18 (Oct 23 high), while supports are now seen at 97.45 (daily low) and 97.15 (Oct 23 low) ahead of 96.93 (Oct 25 low).