4 Sep 2013
USD/JPY clinging to narrow gains
FXstreet.com (Lisbon) - The USD/JPY couldn’t quite complete the full extent of its easing off its highs at 99.82 (session high), avoiding a fall into negative territory thus far during European trading.
USD/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/JPY stabilized around key resistance level of the ascending channel and we think the breaching it and achieve further bullishness is possible today. Extending the upside move is due to stabilizing above 61.8% correction represented in 99.35 and trading above this level forces us to hold on to positivity.”
USD/JPY technical levels
Presently, the USD/JPY has is still trading positively at +0.03% above its opening, settling at 99.62. Briefing the technicals, the USD/JPY will encounter means of calculated resistance at 99.88 a break of which will open up 100.21, onto 100.57, notes the Mataf.net analyst team.
USD/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/JPY stabilized around key resistance level of the ascending channel and we think the breaching it and achieve further bullishness is possible today. Extending the upside move is due to stabilizing above 61.8% correction represented in 99.35 and trading above this level forces us to hold on to positivity.”
USD/JPY technical levels
Presently, the USD/JPY has is still trading positively at +0.03% above its opening, settling at 99.62. Briefing the technicals, the USD/JPY will encounter means of calculated resistance at 99.88 a break of which will open up 100.21, onto 100.57, notes the Mataf.net analyst team.