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2 Aug 2013
USD/JPY shatters 99.00 level and opens fresh lows
FXstreet.com (New York) - An earlier attempt at the 100.00 level stalled just short at 99.97 (intraday high), thereby leading to a staunch fall that took the USD/JPY below the 99.00 level during US trading.
After earlier lackluster releases in the United States (NFP 162k vs 184k projected), the USD/JPY is now trading at just 98.76, opening up more losses and now incurring a fall of -0.77% off its opening. Technically speaking, The Danske Research Team points to supportive means at 98.80, ahead of 98.50 (previous supports at 99.18 were broken).
USD/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/JPY dropped sharply in response to our negative expectations and stability below key resistance levels. We currently think that the possibility of extending the downside move is valid as long as the pair stabilizes below 99.70. It is possible to short the pair again in case around levels 99.20 were tested in line with the previous recommendation.”
After earlier lackluster releases in the United States (NFP 162k vs 184k projected), the USD/JPY is now trading at just 98.76, opening up more losses and now incurring a fall of -0.77% off its opening. Technically speaking, The Danske Research Team points to supportive means at 98.80, ahead of 98.50 (previous supports at 99.18 were broken).
USD/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/JPY dropped sharply in response to our negative expectations and stability below key resistance levels. We currently think that the possibility of extending the downside move is valid as long as the pair stabilizes below 99.70. It is possible to short the pair again in case around levels 99.20 were tested in line with the previous recommendation.”