Back
21 Oct 2013
USD/JPY consolidates above 98.00
FXstreet.com (Córdoba) - The USD/JPY has been in slow but steady ascent Monday as the greenback strengthened slightly ahead of the US NFP report to be published tomorrow.
The FX market was in broad consolidation with majors well within their recent ranges, although the USD showed a slightly positive bias. The USD/JPY rose back above 98.00 and printed a 4-day high of 98.23 before easing slightly. At time of writing, the pair is trading around 98.10, still up 0.3% on the day.
USD/JPY levels to watch
As for technical levels, USD/JPY could find immediate resistances at 98.20/23 (100-hour SMA/daily high) and 99.00 (psychological level). On the other hand, supports are seen at 97.76 (daily low), 97.55 (Oct 18 low) and 97.49 (61.8% of 96.55-99.01).
The FX market was in broad consolidation with majors well within their recent ranges, although the USD showed a slightly positive bias. The USD/JPY rose back above 98.00 and printed a 4-day high of 98.23 before easing slightly. At time of writing, the pair is trading around 98.10, still up 0.3% on the day.
USD/JPY levels to watch
As for technical levels, USD/JPY could find immediate resistances at 98.20/23 (100-hour SMA/daily high) and 99.00 (psychological level). On the other hand, supports are seen at 97.76 (daily low), 97.55 (Oct 18 low) and 97.49 (61.8% of 96.55-99.01).