2 Sep 2013
USD/JPY catapults higher in manic Monday, fresh bullish wave triggered
FXstreet.com (Lisbon) - The USD/JPY foreign exchange rate surged ahead Monday, blowing past the 99.00 region, en route to fresh highs.
USD/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The trading session opening was above USD/JPY key resistance level of the downside move and around 38.2% correction at 98.60. We cannot count on the breach that occurred, as the bullish price gap needs confirmation. Therefore, we prefer to remain neutral in our weekly report. Trading below 98.05 brings back negativity, while breaching 99.00 might trigger a new bullish wave.”
USD/JPY technical levels
With the United States off later today given the observance of the Labor day holiday, the USD/JPY wasted no time notching steadfast gains during European trading, now up a robust +0.89% - at this juncture the pair is operating in the heights of 99.37. Briefing the technicals, the USD/JPY will encounter resistance at 99.55, given the recent summiting of the 99.05 level, notes the Mataf.net analyst team.
USD/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The trading session opening was above USD/JPY key resistance level of the downside move and around 38.2% correction at 98.60. We cannot count on the breach that occurred, as the bullish price gap needs confirmation. Therefore, we prefer to remain neutral in our weekly report. Trading below 98.05 brings back negativity, while breaching 99.00 might trigger a new bullish wave.”
USD/JPY technical levels
With the United States off later today given the observance of the Labor day holiday, the USD/JPY wasted no time notching steadfast gains during European trading, now up a robust +0.89% - at this juncture the pair is operating in the heights of 99.37. Briefing the technicals, the USD/JPY will encounter resistance at 99.55, given the recent summiting of the 99.05 level, notes the Mataf.net analyst team.