4 Sep 2013
USD/JPY prints daily highs – post Beige book results
FXstreet.com (Chicago) - USD/JPY registered 99.83 daily highs after Beige book results were released with an overall economic outlook perceived as “modest” in the US.
Modest nation?
The Beige book results were “modest” as the Fed considered hiring remains slightly better with real estate activity increasing “moderately in most Districts”. Market participants pushed the pair higher but failed to break through strong resistance at 99.81 zone.
USD/JPY Technical Levels
Price action reveals triple tops at session highs around 99.83 zone. The pair maintains upward trendline with steady ascent after bouncing off 99.31 session lows. Offered at 99.73, the pair oscillates between supports at 99.21 (September 2nd lows), 98.72 (August 25th highs) ahead of 98.36 (August 13th highs) and resistances at 100 (August 2nd highs), 100.44 (July 24th highs) followed by 100.88 (July 18th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and trades above the EMA20 to accumulate 0.22$ gains and 0.81% monthly advancements.
Modest nation?
The Beige book results were “modest” as the Fed considered hiring remains slightly better with real estate activity increasing “moderately in most Districts”. Market participants pushed the pair higher but failed to break through strong resistance at 99.81 zone.
USD/JPY Technical Levels
Price action reveals triple tops at session highs around 99.83 zone. The pair maintains upward trendline with steady ascent after bouncing off 99.31 session lows. Offered at 99.73, the pair oscillates between supports at 99.21 (September 2nd lows), 98.72 (August 25th highs) ahead of 98.36 (August 13th highs) and resistances at 100 (August 2nd highs), 100.44 (July 24th highs) followed by 100.88 (July 18th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and trades above the EMA20 to accumulate 0.22$ gains and 0.81% monthly advancements.