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10 Jul 2013
USD/JPY holding above the 101.00 barrier
FXstreet.com (New York) - The USD/JPY technical pair has capped at the 101.19 level Wednesday morning during Asian trading, turning slightly lower in recent moments.
The Asian session looks to be rather dry by way of data releases, as many investors are bracing for the FOMC minutes later tonight at 18:00 GMT. However in the interim, market participants will have a slight trickle of Japanese data at 23:50 GMT.
Strategic bias
At the time of writing, the USD/JPY is operating a slight loss of -0.02%, having settled at 101.10 (200-day SMA). Immediate support lies at 100.71, ahead of 100.43, calculates the Danske Research Team.
According to Valeria Bednarik, an analyst at FXstreet.com, “The USD/JPY was trading in a tight range, unable to move away from the 101.00 level with a slightly positive tone in the hourly charts as technical indicators hold in positive territory. Moving averages presently stand below the current price however the 200-day SMA is approaching the 100.00 level – further approaches will increase the danger of a bearish movement, that will also find confirmation in the break of recent lows around 100.70.”
The Asian session looks to be rather dry by way of data releases, as many investors are bracing for the FOMC minutes later tonight at 18:00 GMT. However in the interim, market participants will have a slight trickle of Japanese data at 23:50 GMT.
Strategic bias
At the time of writing, the USD/JPY is operating a slight loss of -0.02%, having settled at 101.10 (200-day SMA). Immediate support lies at 100.71, ahead of 100.43, calculates the Danske Research Team.
According to Valeria Bednarik, an analyst at FXstreet.com, “The USD/JPY was trading in a tight range, unable to move away from the 101.00 level with a slightly positive tone in the hourly charts as technical indicators hold in positive territory. Moving averages presently stand below the current price however the 200-day SMA is approaching the 100.00 level – further approaches will increase the danger of a bearish movement, that will also find confirmation in the break of recent lows around 100.70.”