7 Jun 2013
USD/JPY erases intraday losses
FXstreet.com (Córdoba) - The USD/JPY bounced from a 2-month low sub 95.00 as after the initial weakness, USD strengthened in the wake of the US NFP figures.
USD/JPY recovered over 220 pips from lows and climbed back above 97.00 to hit a session high of 97.18 before losing momentum. At time of writing, the pair is trading around 96.90, where it is virtually unchanged since opening.
On the upside, above 97.20, immediate resistance is seen at 97.50 (daily high) followed by 97.80 (Jun 6 hourly high). On the downside, supports could be faced at 94.93 (daily low), and 94.50 (Feb 25 high).
USD/JPY recovered over 220 pips from lows and climbed back above 97.00 to hit a session high of 97.18 before losing momentum. At time of writing, the pair is trading around 96.90, where it is virtually unchanged since opening.
On the upside, above 97.20, immediate resistance is seen at 97.50 (daily high) followed by 97.80 (Jun 6 hourly high). On the downside, supports could be faced at 94.93 (daily low), and 94.50 (Feb 25 high).