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18 Oct 2013
USD/JPY consolidates below 98.00
FXstreet.com (Córdoba) - The USD/JPY has entered in a consolidation phase below the 98.00 mark during the American session as interest decreases heading into the weekend with no major data scheduled.
USD/JPY came under pressure Friday and extended losses into a second day, weighed by lower US yields. However, the pair managed to hold above the 97.55 level and bounced slightly, although the 97.85 area capped upside, confining USD/JPY to a slim range.
USD/JPY technical outlook
At time of writing, USD/JPY is trading around 97.70, still 0.2% below its opening price. Valeria Bednarik, chief analyst at FXstreet.com notes that the pair holds the bearish tone in short-term charts, although "the downside may remain limited as indexes in the US soar to fresh record highs".
USD/JPY came under pressure Friday and extended losses into a second day, weighed by lower US yields. However, the pair managed to hold above the 97.55 level and bounced slightly, although the 97.85 area capped upside, confining USD/JPY to a slim range.
USD/JPY technical outlook
At time of writing, USD/JPY is trading around 97.70, still 0.2% below its opening price. Valeria Bednarik, chief analyst at FXstreet.com notes that the pair holds the bearish tone in short-term charts, although "the downside may remain limited as indexes in the US soar to fresh record highs".