3 Jul 2013
USD/JPY eases back to 100.50
FXstreet.com (Barcelona) - The USD/JPY foreign exchange rate is last trading near session lows at 100.52, off recent session and 1-month highs at 100.85, on the back of broad USD weakness and local risk aversion growing.
USD/JPY argues for a move to 103.75
According to FXWW founder Sean Lee, “Technical close back above 100.00 argues for a full retracement to 103.75.” Lee goes on adding: “Mild risk-off sentiment could weigh but market doesn’t care, it wants to buy the greenback,” while reports “Next sell orders of note at 101.25.”
USD/JPY Key technical levels
Immediate support to the downside for USD/JPY lies at recent session lows and London session highs 100.42, followed by Monday's highs at 99.88, and yesterday's lows at 99.49. To the upside, closest resistance shows at recent session/1-month highs 100.85, followed by May 14 lows at 101.25, and May 15/16 lows at 101.80.
USD/JPY argues for a move to 103.75
According to FXWW founder Sean Lee, “Technical close back above 100.00 argues for a full retracement to 103.75.” Lee goes on adding: “Mild risk-off sentiment could weigh but market doesn’t care, it wants to buy the greenback,” while reports “Next sell orders of note at 101.25.”
USD/JPY Key technical levels
Immediate support to the downside for USD/JPY lies at recent session lows and London session highs 100.42, followed by Monday's highs at 99.88, and yesterday's lows at 99.49. To the upside, closest resistance shows at recent session/1-month highs 100.85, followed by May 14 lows at 101.25, and May 15/16 lows at 101.80.