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26 Apr 2013
Forex: USD/JPY trading at support at 98.68/69
FXstreet.com (Barcelona) - The USD/JPY has traded unevenly Friday, though the one constant during European trading has been an entrenchment in negative territory, on the heels of the earlier BoJ news. In these moments, the pair is operating at support at 98.68/69, incurring a steep loss of -0.55%.
The afternoon slate of economic data will no doubt be dominated by GDP figures in the United States at 12:30 GMT later today. As this figure usually serves as a barometer for the US economy, investors will no doubt be keyed in.
Following a break below the 98.93 support, Mataf.net analysts identify additional means of correction at 98.68, and finally 98.38. On the ascension, a prolonged rise and paring of losses past the 99.48 mark will enable short-term resistances at 99.78, and eventually 100.03.
The afternoon slate of economic data will no doubt be dominated by GDP figures in the United States at 12:30 GMT later today. As this figure usually serves as a barometer for the US economy, investors will no doubt be keyed in.
Following a break below the 98.93 support, Mataf.net analysts identify additional means of correction at 98.68, and finally 98.38. On the ascension, a prolonged rise and paring of losses past the 99.48 mark will enable short-term resistances at 99.78, and eventually 100.03.