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1 Oct 2013
USD/JPY extends decline to 97.80
FXstreet.com (San Francisco) - After trading in consolidation mode around 98.00, the USD/JPY has just broken down to test levels around 97.80. The Pair is extending decline from 98.30 reached earlier in the session.
Currently, the US Dollar to Yen exchange rate is at 97.85, 0.40% negative on the day. However the short term perspective is slightly bullish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as CCI and Momentum are pointing to the north while the MACD and Stochastic are neutral.
USD/JPY technical levels
On the downside, supports are seen at 97.65 (daily low), 97.49 (Sep 30 low) ahead of the 97.10 area (Aug 15 & 21 lows). On the upside, USD/JPY could find immediate resistance at 98.29 (session high) followed by 98.69/72 (200-hour SMA/daily high) and 99.00 (psychological level).
Currently, the US Dollar to Yen exchange rate is at 97.85, 0.40% negative on the day. However the short term perspective is slightly bullish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as CCI and Momentum are pointing to the north while the MACD and Stochastic are neutral.
USD/JPY technical levels
On the downside, supports are seen at 97.65 (daily low), 97.49 (Sep 30 low) ahead of the 97.10 area (Aug 15 & 21 lows). On the upside, USD/JPY could find immediate resistance at 98.29 (session high) followed by 98.69/72 (200-hour SMA/daily high) and 99.00 (psychological level).