7 Aug 2013
USD/JPY holds above 96.40
FXstreet.com (Córdoba) - The USD/JPY extended its decline during the American session as the greenback continues to suffer in the wake of Fed taper speculations.
USD/JPY resumes the decline
Following a short-lived recovery attempt that was capped by the 20-hour SMA, the USD/JPY resumed the downside and fell back below the 97.00 mark toward a fresh 7-week low of 96.42 in recent dealings.
USD/JPY key levels
At time of writing, USD/JPY is trading at the 96.65 area, where it records a 1.1% loss on the day. In terms of technical levels, immediate supports for USD/JPY are seen at 96.20 (Jun 25 low) and 96.00 (psychological level). On the flip side, resistances could be found at 97.35 (20-hour SMA), 97.80 (daily high) and 98.00 (psychological level).
USD/JPY resumes the decline
Following a short-lived recovery attempt that was capped by the 20-hour SMA, the USD/JPY resumed the downside and fell back below the 97.00 mark toward a fresh 7-week low of 96.42 in recent dealings.
USD/JPY key levels
At time of writing, USD/JPY is trading at the 96.65 area, where it records a 1.1% loss on the day. In terms of technical levels, immediate supports for USD/JPY are seen at 96.20 (Jun 25 low) and 96.00 (psychological level). On the flip side, resistances could be found at 97.35 (20-hour SMA), 97.80 (daily high) and 98.00 (psychological level).