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29 Aug 2013
USD/JPY repelled by 98.00 zone
FXstreet.com (Chicago) - USD/JPY backed off from 97.92 highs after yesterday’s climb that concluded on this morning’s fall. The pair accumulates 0.05% daily losses so far, adding up to 1.10% weekly losses this week.
Japanese data – investments decline
Earlier in Japan foreign bond investment in Japanese stocks data was released at -89.5B yen vs. previous 48.1B last month. Foreign bond investment was -318.5B vs. past 903.6B. Retail trade data (MoM) for July was -1.8% vs. past -0.2% and yearly results were -0.3% vs. flat estimates and a previous 1.6%. In the US, pending home sales were -1.3% (MoM) vs. previous -0.4%. Tensions on potential attack against Syria continue worrying investors although concerns seem to have diminished as most Asian stock markets trade with gains.
USD/JPY Technical Levels
Technically speaking, the pair trades at 97.59 between supports at 97.34 (August 19th lows), 97.11 (August 21st lows) ahead of 96.81 (August 27th lows) and resistances at 97.85 (August 22nd lows), 98.11 (August 19th highs) followed by 98.40 (August 23rd lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis. Market participants wait for BoJ’s board member Yoshihisa Morimoto speech to business leaders later in the country.
Japanese data – investments decline
Earlier in Japan foreign bond investment in Japanese stocks data was released at -89.5B yen vs. previous 48.1B last month. Foreign bond investment was -318.5B vs. past 903.6B. Retail trade data (MoM) for July was -1.8% vs. past -0.2% and yearly results were -0.3% vs. flat estimates and a previous 1.6%. In the US, pending home sales were -1.3% (MoM) vs. previous -0.4%. Tensions on potential attack against Syria continue worrying investors although concerns seem to have diminished as most Asian stock markets trade with gains.
USD/JPY Technical Levels
Technically speaking, the pair trades at 97.59 between supports at 97.34 (August 19th lows), 97.11 (August 21st lows) ahead of 96.81 (August 27th lows) and resistances at 97.85 (August 22nd lows), 98.11 (August 19th highs) followed by 98.40 (August 23rd lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis. Market participants wait for BoJ’s board member Yoshihisa Morimoto speech to business leaders later in the country.