19 Nov 2013
USD/JPY remains capped by 100.00
FXstreet.com (Córdoba) - The USD/JPY failed to break below the 99.50 area during the Asian session and bounced, erasing intraday losses during the European trade.
The USD/JPY managed to recover ground but the bounce lost momentum ahead of the 100.00 mark, confining the pair to a phase of consolidation, with the US employment cost index going virtually unnoticed. The USD/JPY is currently trading around 99.90, virtually unchanged since opening. "The bias here is negative for a tight test of 99.09-20 support zone, and crucial on the upside is yesterday's high at 100.20", said Stoyan Mihaylov, analyst at DeltaStock.com.
USD/JPY key levels
As for technical levels, immediate resistances line up at 100.00 (psychological level) and the 100.39/43 area (Nov 15 & 18 highs) ahead of 100.60 (Sep 11 high). On the downside, supports are seen at 99.56 (daily low) and 99.10 (Nov 14 low).
The USD/JPY managed to recover ground but the bounce lost momentum ahead of the 100.00 mark, confining the pair to a phase of consolidation, with the US employment cost index going virtually unnoticed. The USD/JPY is currently trading around 99.90, virtually unchanged since opening. "The bias here is negative for a tight test of 99.09-20 support zone, and crucial on the upside is yesterday's high at 100.20", said Stoyan Mihaylov, analyst at DeltaStock.com.
USD/JPY key levels
As for technical levels, immediate resistances line up at 100.00 (psychological level) and the 100.39/43 area (Nov 15 & 18 highs) ahead of 100.60 (Sep 11 high). On the downside, supports are seen at 99.56 (daily low) and 99.10 (Nov 14 low).