15 Jul 2013
USD/JPY testing 100.00 region
FXstreet.com (New York) - The USD/JPY foreign exchange rate has statically clung to the 100.00 region Monday, unable to effectively consolidate its position, nor break out above this area during US trading.
In these moments, the USD/JPY is trading at 99.94, up a robust +0.54% Monday. A short-term rise in the USD/JPY will first need to scale resistances at 100.00, and 100.39 (previous resistance at 99.69 and 99.86 was broken), notes the Danske Research Team.
USD/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/JPY moved to the upside, stabilizing above 99.70 and threatening the intraday negative expectations perhaps for this week, whereas stability above 99.70 might extend bullishness. We might see the pair moving towards 101.60 due to stabilizing above 99.70, Linear Regression Indicators and RSI crossing over line 50 to the upside.”
In these moments, the USD/JPY is trading at 99.94, up a robust +0.54% Monday. A short-term rise in the USD/JPY will first need to scale resistances at 100.00, and 100.39 (previous resistance at 99.69 and 99.86 was broken), notes the Danske Research Team.
USD/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/JPY moved to the upside, stabilizing above 99.70 and threatening the intraday negative expectations perhaps for this week, whereas stability above 99.70 might extend bullishness. We might see the pair moving towards 101.60 due to stabilizing above 99.70, Linear Regression Indicators and RSI crossing over line 50 to the upside.”