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1 Oct 2013
USD/JPY struggles around 98.00
FXstreet.com (Córdoba) - The USD/JPY managed to pop over 98.00 during the American session as the greenback strengthened on the back of solid ISM Manufacturing PMI, trimming part of its shutdown-incurred losses.
Expectations of a short shutdown of the US government also underpinned the USD, which recovered ground versus major competitors, reaching a session high of 98.29 against the yen. At time of writing, USD/JPY is trading at the 98.00 zone, still 0.2% below its opening price.
USD/JPY technical levels
On the upside, USD/JPY could find immediate resistance at 98.29 (session high) followed by 98.69/72 (200-hour SMA/daily high) and 99.00 (psychological level). On the downside, supports are seen at 97.65 (daily low), 97.49 (Sep 30 low) ahead of the 97.10 area (Aug 15 & 21 lows).
Expectations of a short shutdown of the US government also underpinned the USD, which recovered ground versus major competitors, reaching a session high of 98.29 against the yen. At time of writing, USD/JPY is trading at the 98.00 zone, still 0.2% below its opening price.
USD/JPY technical levels
On the upside, USD/JPY could find immediate resistance at 98.29 (session high) followed by 98.69/72 (200-hour SMA/daily high) and 99.00 (psychological level). On the downside, supports are seen at 97.65 (daily low), 97.49 (Sep 30 low) ahead of the 97.10 area (Aug 15 & 21 lows).