16 Jul 2013
USD/JPY retesting the 100.00 barrier
FXstreet.com (New York) - The USD/JPY foreign exchange rate fell off its recent highs (100.08), retreating slightly at the Tokyo open back to the 100.00 level as many investors return from a long holiday weekend.
USD/JPY strategic bias
According to Valeria Bednarik, an analyst at FXstreet.com, “The USD/JPY is having a hard time holding onto the 100.00 level, though is still remaining fortified by immediate support at 99.70. The hourly chart shows prices in between moving averages, while indicators head slightly lower still in positive territory, helping keep the upside limited. Moreover, the 4 hours chart indicators also lack momentum, turning lower despite being in positive territory.”
Presently, the USD/JPY is still testing the 100.00 region, as it has been doing for the entirety of Asian trading thus far. In these moments the pair is recording a gain of +0.08%, and looks towards resistances at 100.10 (July 3 high), onto 100.35 (June 5 high), and 100.40 (June 3 low).
USD/JPY strategic bias
According to Valeria Bednarik, an analyst at FXstreet.com, “The USD/JPY is having a hard time holding onto the 100.00 level, though is still remaining fortified by immediate support at 99.70. The hourly chart shows prices in between moving averages, while indicators head slightly lower still in positive territory, helping keep the upside limited. Moreover, the 4 hours chart indicators also lack momentum, turning lower despite being in positive territory.”
Presently, the USD/JPY is still testing the 100.00 region, as it has been doing for the entirety of Asian trading thus far. In these moments the pair is recording a gain of +0.08%, and looks towards resistances at 100.10 (July 3 high), onto 100.35 (June 5 high), and 100.40 (June 3 low).