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11 Sep 2013
USD/JPY continues to trade above 100.00 despite negativity
FXstreet.com (Lisbon) - The USD/JPY foreign exchange rate refused to break back below the 100.00, sustaining a new floor as risk appetite continues to mount.
USD/JPY technical levels
At this juncture, the USD/JPY has moved to the 100.28 level, which places it at a -0.08% off on the day Wednesday (earlier lows at 100.08). Glancing at the technicals, the USD/JPY remains fortified above supports at 100.14, ahead of 99.95, and 99.75, suggests the Danske Research Team.
USD/JPY strategic bias
According to Karen Jones, a Technical Analyst at Commerzbank, “The measured USD/JPY target is approximately at 109/110.00, with a Fibonacci retracement offering a 105.48 resistance point en route. Near-term support remains to be seen along the 55-day ma at 98.90. The triangle remains valid above the 97.05 support line, but ideally we should now see dips hold at 99.00/98.32.”
USD/JPY technical levels
At this juncture, the USD/JPY has moved to the 100.28 level, which places it at a -0.08% off on the day Wednesday (earlier lows at 100.08). Glancing at the technicals, the USD/JPY remains fortified above supports at 100.14, ahead of 99.95, and 99.75, suggests the Danske Research Team.
USD/JPY strategic bias
According to Karen Jones, a Technical Analyst at Commerzbank, “The measured USD/JPY target is approximately at 109/110.00, with a Fibonacci retracement offering a 105.48 resistance point en route. Near-term support remains to be seen along the 55-day ma at 98.90. The triangle remains valid above the 97.05 support line, but ideally we should now see dips hold at 99.00/98.32.”