29 Jul 2013
USD/JPY drives deeper into negative territory
FXstreet.com (New York) - The USD/JPY foreign exchange rate has failed to garner any amount of momentum needed to eliminate its daily losses, instead turning lower and waning further during US trading.
In these moments, the USD/JPY is steadfastly re-approaching its session lows at 97.63, now operating at 97.77, en route to a -0.30% loss on the day thus far. The Danske Research team points to supports for the USD/JPY at 97.65 (session), 97.25, and 96.95.
USD/JPY strategic bias
According to Technical analyst team at ICN.com, “The USD/JPY's weak movement got it closer to 50% correction at 97.65, as the stochastic shows oversold signals. Linear Regression Indicators tends to be negative and RSI are moving a bit to the downside. The downside move is still valid this week as long as the pair stabilizes below 98.60.”
In these moments, the USD/JPY is steadfastly re-approaching its session lows at 97.63, now operating at 97.77, en route to a -0.30% loss on the day thus far. The Danske Research team points to supports for the USD/JPY at 97.65 (session), 97.25, and 96.95.
USD/JPY strategic bias
According to Technical analyst team at ICN.com, “The USD/JPY's weak movement got it closer to 50% correction at 97.65, as the stochastic shows oversold signals. Linear Regression Indicators tends to be negative and RSI are moving a bit to the downside. The downside move is still valid this week as long as the pair stabilizes below 98.60.”