1 Aug 2013
USD/JPY rally caps at 99.00 region
FXstreet.com (New York) - The USD/JPY technical pair was unable to touch the 99.00 level Thursday morning, peaking at 98.98 (intraday high), following what has turned into a USD rally across the board after better-than-expected US data.
In the United States, Initial Jobless Claims (July 26) came in at 326k, beating estimates of 345k. Moreover, Continuing Jobless Claims (July 20) yielded a figure of 2.951M, against expectations of 2.994M. Finally, Markit Manufacturing PMI improved to 53.7, besting a projection of only 53.1.
At the time of writing, the USD/JPY is presently negotiating a gain of +1.00% above it’s opening, trading at the 98.98 level during US trading. In terms of the technical levels, after a earlier rise above the 98.71 resistance, the USD/JPY remains constrained by added means at the 99.00 barrier, which has thus far provided staunch resistance, notes the Danske Research Team.
USD/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/JPY managed to stabilize above 98.60 as Linear Regression Indicators are sowing more positivity. However, the stochastic is showing intraday overbought signals forcing us to remain neutral today.”
In the United States, Initial Jobless Claims (July 26) came in at 326k, beating estimates of 345k. Moreover, Continuing Jobless Claims (July 20) yielded a figure of 2.951M, against expectations of 2.994M. Finally, Markit Manufacturing PMI improved to 53.7, besting a projection of only 53.1.
At the time of writing, the USD/JPY is presently negotiating a gain of +1.00% above it’s opening, trading at the 98.98 level during US trading. In terms of the technical levels, after a earlier rise above the 98.71 resistance, the USD/JPY remains constrained by added means at the 99.00 barrier, which has thus far provided staunch resistance, notes the Danske Research Team.
USD/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/JPY managed to stabilize above 98.60 as Linear Regression Indicators are sowing more positivity. However, the stochastic is showing intraday overbought signals forcing us to remain neutral today.”