6 Jun 2013
USD/JPY drops to 5-week low
FXstreet.com (Córdoba) - The USD/JPY accelerated losses during the American afternoon, accelerating losses on the break of the 98.80 support area.
USD/JPY has dropped nearly pips within the last hour amid broad dollar weakness and hit its lowest in 5 weeks at 98.05 before bouncing slightly. At time of writing, USD/JPY is trading at the 98.15/20 area, recording a 0.8% loss on the day.
In terms of technical levels, next supports could be faced at 98.00 (psychological level) and 97.88 (May 3 low), while resistances are seen at 98.80 (former support) and 99.00 (psychological level).
USD/JPY has dropped nearly pips within the last hour amid broad dollar weakness and hit its lowest in 5 weeks at 98.05 before bouncing slightly. At time of writing, USD/JPY is trading at the 98.15/20 area, recording a 0.8% loss on the day.
In terms of technical levels, next supports could be faced at 98.00 (psychological level) and 97.88 (May 3 low), while resistances are seen at 98.80 (former support) and 99.00 (psychological level).