23 Jul 2013
USD/JPY trading below pivot
FXstreet.com (London) - USD/JPY is still in ‘sell the news’ mode in response to the upper house elections and a within soft dollar environment overall.
USD/JPY is trading between 99.14 and 100.00 while somewhere in between is capping the pair with an overall bearish bias to the pair, sub pivot 99.86. There are US House Price Approvals in the afternoon that will be closely monitored.
USD/JPY eroding the 55-day ma
USD/JPY is offered and trading through the 55 day ma, failing with attempts for the psychological three-month resistance line and key 100.00 level. Traders may look to an obvious target as being the base of the cloud at circa 97.92/93 while resistances hold up and US data continues to disappoint.
USD/JPY is trading between 99.14 and 100.00 while somewhere in between is capping the pair with an overall bearish bias to the pair, sub pivot 99.86. There are US House Price Approvals in the afternoon that will be closely monitored.
USD/JPY eroding the 55-day ma
USD/JPY is offered and trading through the 55 day ma, failing with attempts for the psychological three-month resistance line and key 100.00 level. Traders may look to an obvious target as being the base of the cloud at circa 97.92/93 while resistances hold up and US data continues to disappoint.