18 Nov 2013
USD/JPY testing the key 99.90 support
FXstreet.com (London) - USD/JPY is reluctant to lose territory away from 100.00 and 99.90 continues to be resilient support.
USD/JPY is however inching it’s way lower and currently test’s the support with a play in 99.80’s ahead of a NY close. The market is however still long USD/JPY as noted by the 20% increase in YEN shorts last week in IMM data, so buying dips might remain the theme with support in 99.70/80 and 99.40/50.
USD/JPY Levels
The 20 DMA is 98.55, the 50 DMA is 98.50 and the 200 DMA is 97.91. RSI (14) reads 43.24. Supports are ascending from 99.37, 99.56, 99.73. Spot is currently 99.86 while resistances are 100.47, 100.62, 101.05 and 101.30.
USD/JPY is however inching it’s way lower and currently test’s the support with a play in 99.80’s ahead of a NY close. The market is however still long USD/JPY as noted by the 20% increase in YEN shorts last week in IMM data, so buying dips might remain the theme with support in 99.70/80 and 99.40/50.
USD/JPY Levels
The 20 DMA is 98.55, the 50 DMA is 98.50 and the 200 DMA is 97.91. RSI (14) reads 43.24. Supports are ascending from 99.37, 99.56, 99.73. Spot is currently 99.86 while resistances are 100.47, 100.62, 101.05 and 101.30.