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22 Oct 2013
USD/JPY extends sideways action above 98.15
FXstreet.com (Chicago) - USD/JPY evidenced parallel price action after the American trading session and before Tokyo’s opening maintaining the 98 front despite visit to 98.14 lows.
Data expected
Earlier in Wall Street, markets closed with modest gains or losses, presenting mixed results ahead of nonfarm payroll data expected tomorrow after US shutdown delays. With no Japanese data due later, the pair is at the mercy of market reactions results to US job market facts.
USD/JPY Technical Levels
Technically speaking, the pair presents divergence between primary trend, pointing down, and secondary trend, pointing up. Stalled after bouncing above the 98 zone, the pair evidences a downward reaction shortly after Tokyo’s opening to find grounds above the 98.10 front. Offered at 98.16, the pair navigates between the supports aligned at 98 (October 15th lows), 97.57 (October 18th lows) ahead of 97.10 (October 8th lows) and the resistances set at 98.57 (October 11th highs), 99 (October 16th highs) followed by 99.36 (September 14th highs).
Data expected
Earlier in Wall Street, markets closed with modest gains or losses, presenting mixed results ahead of nonfarm payroll data expected tomorrow after US shutdown delays. With no Japanese data due later, the pair is at the mercy of market reactions results to US job market facts.
USD/JPY Technical Levels
Technically speaking, the pair presents divergence between primary trend, pointing down, and secondary trend, pointing up. Stalled after bouncing above the 98 zone, the pair evidences a downward reaction shortly after Tokyo’s opening to find grounds above the 98.10 front. Offered at 98.16, the pair navigates between the supports aligned at 98 (October 15th lows), 97.57 (October 18th lows) ahead of 97.10 (October 8th lows) and the resistances set at 98.57 (October 11th highs), 99 (October 16th highs) followed by 99.36 (September 14th highs).