Back
16 Jul 2013
USD/JPY establishing session lows
FXstreet.com (New York) - The USD/JPY foreign exchange rate has plunged lower Tuesday, opening up fresh intraday lows at the time of writing.
In these moments, the USD/JPY is now navigating the area of 99.13, suffering from a staunch decline of -0.73% during US trading. Supports are now being tested at 99.19, ahead of 98.75, and 98.55, calculates the ICN.com Technical Analyst Team.
USD/JPY strategic bias
According to Karen Jones, an analyst at Commerzbank, “Despite yesterdays rally, the USD/JPY remains below its 101.60 78.6% retracement and attention remains on the base of the cloud circa 98.15. It starts this week sandwiched between these two levels. We suspect that overall risk is on the downside.”
In these moments, the USD/JPY is now navigating the area of 99.13, suffering from a staunch decline of -0.73% during US trading. Supports are now being tested at 99.19, ahead of 98.75, and 98.55, calculates the ICN.com Technical Analyst Team.
USD/JPY strategic bias
According to Karen Jones, an analyst at Commerzbank, “Despite yesterdays rally, the USD/JPY remains below its 101.60 78.6% retracement and attention remains on the base of the cloud circa 98.15. It starts this week sandwiched between these two levels. We suspect that overall risk is on the downside.”