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4 Oct 2013
USD/JPY plunges to 97.03 session lows on extreme bearish pressure
FXstreet.com (Chicago) - USD/JPY continues falling shortly after Tokyo’s opening ahead of the BoJ decision rate release. Falling to 97.03 lows, the pair seems to find grounds on attempt to recover losses remaining below the EMA20.
USD/JPY Technical Levels
Price action reveals heavy selling sending the pair to 97.03 lows. Following primary and secondary price actions, the pair holds on to zone at 97 (previous session lows and August 28th lows). Extending the bearish trendline from September 11th highs, the pair remains printing lower highs and lows. Offered at 97.05, the pair navigates between supports at 96.92 (October 3rd lows), 96.42 (August 10th lows) ahead of 95.92 (August 8th lows) and resistances at 97.44 (August 29th lows), 98.34 (August 29th highs) followed by 99.12 (September 26th highs).
USD/JPY Technical Levels
Price action reveals heavy selling sending the pair to 97.03 lows. Following primary and secondary price actions, the pair holds on to zone at 97 (previous session lows and August 28th lows). Extending the bearish trendline from September 11th highs, the pair remains printing lower highs and lows. Offered at 97.05, the pair navigates between supports at 96.92 (October 3rd lows), 96.42 (August 10th lows) ahead of 95.92 (August 8th lows) and resistances at 97.44 (August 29th lows), 98.34 (August 29th highs) followed by 99.12 (September 26th highs).