1 Jul 2013
USD/JPY clings to gains
FXstreet.com (Córdoba) - The USD/JPY edged higher at the beginning of the trading week, reaching a 4-week high underpinned by Nikkei gains and a solid tankan report.
USD/JPY extended gains into a third day on Monday also supported by higher US yields, and climbed to a high of 99.72, last seen Jun 5. However, the pair lost momentum and retreated a tad to currently trade around 99.65, still up 0.4% on the day.
USD/JPY could top out at 99.90/100
"USDJPY has continued higher towards our target & very strong resistance at 99.90/100 as hoped but we should we see the market top out here. If this does hold we have the makings of a longer term bearish pattern", said Jason Sen, analyst at DayTradeIdeas.com. "Support at 98.75 may hold a drift lower today. However any longs need stops below 98.50 as this risks a move towards 97.60/50 which should hold the downside today".
USD se sostiene en máximos del día
USD/JPY extended gains into a third day on Monday also supported by higher US yields, and climbed to a high of 99.72, last seen Jun 5. However, the pair lost momentum and retreated a tad to currently trade around 99.65, still up 0.4% on the day.
USD/JPY could top out at 99.90/100
"USDJPY has continued higher towards our target & very strong resistance at 99.90/100 as hoped but we should we see the market top out here. If this does hold we have the makings of a longer term bearish pattern", said Jason Sen, analyst at DayTradeIdeas.com. "Support at 98.75 may hold a drift lower today. However any longs need stops below 98.50 as this risks a move towards 97.60/50 which should hold the downside today".
USD se sostiene en máximos del día