22 Aug 2013
USD/JPY reaches 2-week high
FXstreet.com (Cordoba) - USD demand persisted during the European session, lifting USD/JPY to fresh highs 2-week highs in recent dealings.
USD/JPY stalls ahead of 100-day SMA
USD/JPY has climbed over 100 pips throughout the day as the net effect of yesterday’s FOMC minutes were higher Treasury yields and a stronger dollar. The pair recently reached its highest since Aug 5 at 98.80 but the rally lost momentum ahead of the 98.95/99.00 resistance area, where the 100-day SMA and the psychological barrier converge.
USD/JPY technical levels
At time of writing, USD/JPY is trading at the 98.65 zone, where it records a 1.0% gain on the day, with immediate resistances seen at 98.80 (daily high), 98.95/99.00 (100-day SMA/psychological level) and 99.15 (Aug 5 high). On the other hand, supports could be found at 98.35 (10-hour SMA) and 98.00 (psychological level).
USD/JPY stalls ahead of 100-day SMA
USD/JPY has climbed over 100 pips throughout the day as the net effect of yesterday’s FOMC minutes were higher Treasury yields and a stronger dollar. The pair recently reached its highest since Aug 5 at 98.80 but the rally lost momentum ahead of the 98.95/99.00 resistance area, where the 100-day SMA and the psychological barrier converge.
USD/JPY technical levels
At time of writing, USD/JPY is trading at the 98.65 zone, where it records a 1.0% gain on the day, with immediate resistances seen at 98.80 (daily high), 98.95/99.00 (100-day SMA/psychological level) and 99.15 (Aug 5 high). On the other hand, supports could be found at 98.35 (10-hour SMA) and 98.00 (psychological level).