14 Oct 2013
USD/JPY retracing from 98.51 session highs
FXstreet.com (Chicago) - USD/JPY reached 98.51 session highs on talks about a new debt ceiling debt limit next year.
It is not over yet
Despite increasing hopes that the debt ceiling issue will be resolver on time, the government continues talking about an agreement that will end the government shutdown on US holiday for the markets.
USD/JPY Technical Levels
Technically speaking, the pair extends bullish channel despite crack below the upward trendline that started last October 6th earlier in Asia. After breaking through immediate resistance, the pair oscillates at 98.43 and navigates between supports aligned at 98.34 (October 10th highs), 97.83 (October 3rd highs) ahead of 97.44 (October 4th highs) and the resistances set at 98.75 (September 29th highs), 99.16 (September 26th highs) followed by 99.68 (September 19th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.
It is not over yet
Despite increasing hopes that the debt ceiling issue will be resolver on time, the government continues talking about an agreement that will end the government shutdown on US holiday for the markets.
USD/JPY Technical Levels
Technically speaking, the pair extends bullish channel despite crack below the upward trendline that started last October 6th earlier in Asia. After breaking through immediate resistance, the pair oscillates at 98.43 and navigates between supports aligned at 98.34 (October 10th highs), 97.83 (October 3rd highs) ahead of 97.44 (October 4th highs) and the resistances set at 98.75 (September 29th highs), 99.16 (September 26th highs) followed by 99.68 (September 19th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.