18 Sep 2013
USD/JPY finds support at 97.85 after falling 115 pips on No-Taper wave
FXstreet.com (San Francisco) - The USD/JPY seems to have found support at 97.85 after falling around 115 pips in the post Fed meeting reaction. The USD/JPY declined to break 98.45 support and set a fresh September low at this mínimum.
Currently, the USD/JPY is trading at 98.15, 0.95% negative on the day. The short term perspective is now slightly bearish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as CCI, MOmentum and MACD are pointing to the south while the Stochastic is bullish.
The Pair will face the immediate support at 97.65 (cloud base) ahead of 97.45 (low Aug.29) and then 96.81 (low Aug.28). On the upside, a breakout of 99.54 (high Sep.16) would aim for 99.98 (high Sep.13) and finally 100.00 (psychological level).
Currently, the USD/JPY is trading at 98.15, 0.95% negative on the day. The short term perspective is now slightly bearish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as CCI, MOmentum and MACD are pointing to the south while the Stochastic is bullish.
The Pair will face the immediate support at 97.65 (cloud base) ahead of 97.45 (low Aug.29) and then 96.81 (low Aug.28). On the upside, a breakout of 99.54 (high Sep.16) would aim for 99.98 (high Sep.13) and finally 100.00 (psychological level).