5 Nov 2013
USD/JPY struggling above 50 DMA
FXstreet.com (London) - USD/JPY is finding tough resistance at 98.60 having spiked earlier on in the session to print 98.69 the high and exceeding the former descending resisting trend-line.
The Nikki had been under pressure overnight in Asia which weighed on the pair, but despite the Nikki coming back the pair traded heavy with EUR/JPY supply. Meanwhile, US data came in much better on the consensus with ISM Non-Manufacturing printing 55.4 vs 54.0.
USD/JPY Levels
The 20 DMA is 98.03, the 50 DMA is 98.43 and the 200 DMA is 97.60. RSI (14) reads 53.50. Supports are ascending from 97.40, 97.80, 98.03, 98.24, and 98.48. Spot is currently 98.55 while resistances are 98.71, 98.86 and 99.67.
The Nikki had been under pressure overnight in Asia which weighed on the pair, but despite the Nikki coming back the pair traded heavy with EUR/JPY supply. Meanwhile, US data came in much better on the consensus with ISM Non-Manufacturing printing 55.4 vs 54.0.
USD/JPY Levels
The 20 DMA is 98.03, the 50 DMA is 98.43 and the 200 DMA is 97.60. RSI (14) reads 53.50. Supports are ascending from 97.40, 97.80, 98.03, 98.24, and 98.48. Spot is currently 98.55 while resistances are 98.71, 98.86 and 99.67.