1 Jul 2013
USD/JPY waning off highs
FXstreet.com (New York) - The USD/JPY foreign exchange rate has been in gradual retreat since peaking earlier at the 99.88 level during the European session.
USD/JPY upside movement curtailed for now
In recent minutes, the USD/JPY has found has been rescinding its daily gains, albeit remaining entrenched in positive territory at 99.65, presently +0.40% above its opening still. ICN.com Technical analysts calculate the next resistances at 99.95, onto 100.35, and finally 100.85.
USD/JPY gains could be slowed in the near-term
According to Karen Jones, an analyst at Commerzbank, “In terms of the USD/JPY, “Fed ‘tapering’ talk should lend support into Jun NFP but persistent JP sales of foreign bonds should slow the pace of gains near-term. Look for dips sub-98 to find buyers, offers either side of 100.”
USD/JPY upside movement curtailed for now
In recent minutes, the USD/JPY has found has been rescinding its daily gains, albeit remaining entrenched in positive territory at 99.65, presently +0.40% above its opening still. ICN.com Technical analysts calculate the next resistances at 99.95, onto 100.35, and finally 100.85.
USD/JPY gains could be slowed in the near-term
According to Karen Jones, an analyst at Commerzbank, “In terms of the USD/JPY, “Fed ‘tapering’ talk should lend support into Jun NFP but persistent JP sales of foreign bonds should slow the pace of gains near-term. Look for dips sub-98 to find buyers, offers either side of 100.”