22 Aug 2013
USD/JPY at the crossroads, where to go from here?
FXstreet.com (New York) - The USD/JPY foreign exchange rate has clung to the majority of its gains Thursday, refusing to budge much from the top-end of it range, despite mixed signals.
USD/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/JPY is touching levels around 38.2% correction at 98.60 and very close to key resistance level of the descending channel. The stochastic, RSI and Linear Regression Indicator 55 all tends to be positive now, meanwhile we need to confirm breaching the resistance level and stabilizing above 98.60 to be positive again. Therefore, we prefer to remain neutral to close out the week.”
USD/JPY technical levels
The USD/JPY has eased off of earlier highs (98.82), now moving towards the mark of 98.61 during US trading, still gripping to a gain of +0.91% above its opening. Technically speaking, the USD/JPY remains saddled by resistances at 98.66, onto 98.78, and 99.15, calculates the Danske Research Team.
USD/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/JPY is touching levels around 38.2% correction at 98.60 and very close to key resistance level of the descending channel. The stochastic, RSI and Linear Regression Indicator 55 all tends to be positive now, meanwhile we need to confirm breaching the resistance level and stabilizing above 98.60 to be positive again. Therefore, we prefer to remain neutral to close out the week.”
USD/JPY technical levels
The USD/JPY has eased off of earlier highs (98.82), now moving towards the mark of 98.61 during US trading, still gripping to a gain of +0.91% above its opening. Technically speaking, the USD/JPY remains saddled by resistances at 98.66, onto 98.78, and 99.15, calculates the Danske Research Team.