16 Jul 2013
USD/JPY can't hold above 100.00
FXstreet.com (Barcelona) - The USD/JPY foreign exchange rate is last trading at 99.91, off recent session lows at 99.70, retracing from late London weekly highs at 100.51, after a 3-day weekend in Tokyo.
USD/JPY lacking momentum
According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “The hourly chart shows price in between moving averages, while indicators head slightly lower still in positive territory, helping keep the upside limited. In the 4 hours chart indicators also lack momentum, turning lower still in positive territory. Below support at 99.70, immediate target comes at recent lows around 99.20.”
USD/JPY key technical levels
Bednarik locates support levels at: 99.70, 99.20 and 98.80, while resistance levels at: 100.30, 100.70 and 101.00.
USD/JPY lacking momentum
According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “The hourly chart shows price in between moving averages, while indicators head slightly lower still in positive territory, helping keep the upside limited. In the 4 hours chart indicators also lack momentum, turning lower still in positive territory. Below support at 99.70, immediate target comes at recent lows around 99.20.”
USD/JPY key technical levels
Bednarik locates support levels at: 99.70, 99.20 and 98.80, while resistance levels at: 100.30, 100.70 and 101.00.