Back
1 Apr 2013
Forex: USD/JPY falls to 93.49/50
FXstreet.com (Barcelona) - The USD/JPY fell off the 93.65 handle following the release of mixed economic data in the US. On the heels of the data, the pair collapsed to 93.42, where it managed to slow its decline. In these moments the cross is trading at 93.49/50.
In the United States, ISM Manufacturing PMI (March) came in at 51.3, missing expectations of 54.1 In addition, Construction Spending (MoM) grew by +1.2% in February, beating estimates of only +1.0%. Finally, ISM Prices Paid (March) recorded a figure of 54.5, relative to projections calling for 59.8.
After breaking support at 93.65, Mataf.net analysts point to corrective measures of support ahead at 93.05, then 92.80. Regarding a further paring of losses, resistances for the USD/JPY will trigger at 94.10 onto 94.85 and ultimately 95.00.
In the United States, ISM Manufacturing PMI (March) came in at 51.3, missing expectations of 54.1 In addition, Construction Spending (MoM) grew by +1.2% in February, beating estimates of only +1.0%. Finally, ISM Prices Paid (March) recorded a figure of 54.5, relative to projections calling for 59.8.
After breaking support at 93.65, Mataf.net analysts point to corrective measures of support ahead at 93.05, then 92.80. Regarding a further paring of losses, resistances for the USD/JPY will trigger at 94.10 onto 94.85 and ultimately 95.00.