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26 Jun 2013
USD/JPY retracing after recent losses
FXstreet.com (New York) - The USD/JPY plunge was grounded at the 97.42 level during US trading, which subsequently managed to retrace higher in recent moments.
Presently, the USD/JPY foreign exchange rate is now trading at 97.56 or still -0.28% Wednesday. Briefing the technicals, Mataf.net analysts calculate the next supports for the pair at 97.27, ahead of 96.48, and 96.00. On the upside, a break above the 98.55 handle will initiate resistance at 99.03 and 99.83.
USD/JPY negative bias remains
According to the Technical Analyst Team at ICN.com, “The USD/JPY fluctuated during yesterday’s session, despite moving to the upside. Meanwhile, the stochastic offered a negative crossover – presently the pair is currently stable below Linear Regression Indicators and the stochastic is still showing the same negative bias.”
USD/JPY moves on mixed US data
Earlier today in the United States, Gross Domestic Product Annualized (Q1) came in at only +1.8%, missing expectations of +2.4%. Moreover, the Gross Domestic Product Price Index was reported at +1.3%, beating estimates of +1.1%. Finally, Core Personal Consumption Expenditures (QoQ) grew +1.3% in Q1, matching projections.
Presently, the USD/JPY foreign exchange rate is now trading at 97.56 or still -0.28% Wednesday. Briefing the technicals, Mataf.net analysts calculate the next supports for the pair at 97.27, ahead of 96.48, and 96.00. On the upside, a break above the 98.55 handle will initiate resistance at 99.03 and 99.83.
USD/JPY negative bias remains
According to the Technical Analyst Team at ICN.com, “The USD/JPY fluctuated during yesterday’s session, despite moving to the upside. Meanwhile, the stochastic offered a negative crossover – presently the pair is currently stable below Linear Regression Indicators and the stochastic is still showing the same negative bias.”
USD/JPY moves on mixed US data
Earlier today in the United States, Gross Domestic Product Annualized (Q1) came in at only +1.8%, missing expectations of +2.4%. Moreover, the Gross Domestic Product Price Index was reported at +1.3%, beating estimates of +1.1%. Finally, Core Personal Consumption Expenditures (QoQ) grew +1.3% in Q1, matching projections.