15 Oct 2013
USD/JPY glued to 98.34 support
FXstreet.com (Chicago) - USD/JPY seems to bounce off from latest fall after negotiations in Washington were said to be suspended with an ongoing US shutdown that has the world focused on what happens between politicians.
The latest messages in Washington are mixed with senators saying they won’t walk away and others affirming it has all fallen apart. In the meantime, market participants wait for further developments.
USD/JPY Technical Levels
Technically speaking, the pair holds on to strong support around 98.16 speeding higher now close to a consolidation above the 98.40 zone. Offered at 98.38, the pair oscillates 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.
The latest messages in Washington are mixed with senators saying they won’t walk away and others affirming it has all fallen apart. In the meantime, market participants wait for further developments.
USD/JPY Technical Levels
Technically speaking, the pair holds on to strong support around 98.16 speeding higher now close to a consolidation above the 98.40 zone. Offered at 98.38, the pair oscillates 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.