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27 Sep 2013
USD/JPY keeps diving; hits 98.09 10-day lows
FXstreet.com (Chicago) - USD/JPY continues accumulating losses and prints 0.81% daily losses so far for a total of 112 pips lost this week. Ahead of Wall Street’s closing, the pair stalls around 10-day lows on concerns about the US debt-ceiling.
Same discourse
Price action reveals a steep plunge on Dudley’s comments saying the job market remains unhealthy, inflation expectations remain on track and tapering will not occur until there are facts proving improvement.
USD/JPY Technical Levels
Technically speaking, the pair is offered at 98.09 and oscillates between supports aligned at 98 (August 17th highs), 97.75 (September 18th lows) ahead of 97.43 (August 28th lows) and the resistances set at 98.45 (August 28th highs), 98.73 (August 23rd highs) followed by 99.15 (September 25th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.
Same discourse
Price action reveals a steep plunge on Dudley’s comments saying the job market remains unhealthy, inflation expectations remain on track and tapering will not occur until there are facts proving improvement.
USD/JPY Technical Levels
Technically speaking, the pair is offered at 98.09 and oscillates between supports aligned at 98 (August 17th highs), 97.75 (September 18th lows) ahead of 97.43 (August 28th lows) and the resistances set at 98.45 (August 28th highs), 98.73 (August 23rd highs) followed by 99.15 (September 25th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.