26 Jul 2013
USD/JPY breaks down 98.50 and trades at 2-week lows
FXstreet.com (San Francisco) - The US dollar is extending its decline against the Japanese yen and after falling around 40 pips from 98.70 to break down the 98.50 and trades at 2-week lows around 98.25.
Currently, the USD/JPY is trading at 98.32, 0.93% down on the day. Short term perspective is slightly bearish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as MACD, CCI and Momentum are pointing to the north while the Stochastic is bullish.
Below the 98.25, next supports are at 98.00 and 97.60. On the upside, resistances are at 99.00, 99.10 and 99.85.
Currently, the USD/JPY is trading at 98.32, 0.93% down on the day. Short term perspective is slightly bearish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as MACD, CCI and Momentum are pointing to the north while the Stochastic is bullish.
Below the 98.25, next supports are at 98.00 and 97.60. On the upside, resistances are at 99.00, 99.10 and 99.85.