22 Aug 2013
USD/JPY, 100 pips advance; facing skies
FXstreet.com (Chicago) - USD/JPY has strengthened 1.08% so far prior to the American trading session. The dollar advanced considerably throughout the day post manufacturing and job market data results.
Trading resumed, green wins
After a 3-hour shutdown, the Nasdaq finally resumed activities, maintaining gains at 1.07% and leading winning indexes with the Dow up 0.53% and the S&P500 higher 0.93%. After unclear FOMC minutes with inconclusive determinations, underperforming job market data favors speculation in favor of a postponed Fed’s tapering.
USD/JPY Technical Levels
Price action indicates the pair chose the upside after trading sideways throughout the afternoon of the American session. At 98.71, the pair is capped at 98.75, ceiling hit three times within the past four hours. On the upside, resistances are aligned at .85 (August 3rd lows), 99.10 (July 4th highs) ahead of 99.31 (July 18th lows) while the downside aligns supports at 98.50 (July 20th highs), 98.23 (August 12th highs) followed by 97.90 (August 18th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis flowing above the EMA20.
Trading resumed, green wins
After a 3-hour shutdown, the Nasdaq finally resumed activities, maintaining gains at 1.07% and leading winning indexes with the Dow up 0.53% and the S&P500 higher 0.93%. After unclear FOMC minutes with inconclusive determinations, underperforming job market data favors speculation in favor of a postponed Fed’s tapering.
USD/JPY Technical Levels
Price action indicates the pair chose the upside after trading sideways throughout the afternoon of the American session. At 98.71, the pair is capped at 98.75, ceiling hit three times within the past four hours. On the upside, resistances are aligned at .85 (August 3rd lows), 99.10 (July 4th highs) ahead of 99.31 (July 18th lows) while the downside aligns supports at 98.50 (July 20th highs), 98.23 (August 12th highs) followed by 97.90 (August 18th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis flowing above the EMA20.