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7 Oct 2013
USD/JPY rushed to 97.22 lows on “safe-haven” behavior
FXstreet.com (Chicago) - USD/JPY welcomes Monday losing against a stronger yen on potential risk aversion behavior due to the uncertainty triggered by an indefinite US political crisis.
My way or the highway?
Last Friday, House Speaker Boehner said he would not allow other politicians to paralyze the country fueling the dollar higher momentarily. Over the weekend, he insisted saying “You’ve never seen a more dedicated group of people who are thoroughly concerned about the future of our country. The nation’s credit is at risk because of the administration’s refusal to sit down and have a conversation”. Referring to Barack Obama and his fellow advocates, the discourse evidences no progress whatsoever in terms of open-mindedness. In Japan, the BoJ monthly economic survey results are expected along the confident and leading economic indexes.
USD/JPY Technical Levels
Technically speaking, the pair trades at 97.29 and oscillates between supports aligned at 96.92 (October 3rd lows), 96.42 (August 10th lows) followed by 95.92 (August 8th lows) and getting close to the resistances set at 97.44 (August 29th lows), 98.34 (August 29th highs) followed by 99.12 (September 26th highs).
My way or the highway?
Last Friday, House Speaker Boehner said he would not allow other politicians to paralyze the country fueling the dollar higher momentarily. Over the weekend, he insisted saying “You’ve never seen a more dedicated group of people who are thoroughly concerned about the future of our country. The nation’s credit is at risk because of the administration’s refusal to sit down and have a conversation”. Referring to Barack Obama and his fellow advocates, the discourse evidences no progress whatsoever in terms of open-mindedness. In Japan, the BoJ monthly economic survey results are expected along the confident and leading economic indexes.
USD/JPY Technical Levels
Technically speaking, the pair trades at 97.29 and oscillates between supports aligned at 96.92 (October 3rd lows), 96.42 (August 10th lows) followed by 95.92 (August 8th lows) and getting close to the resistances set at 97.44 (August 29th lows), 98.34 (August 29th highs) followed by 99.12 (September 26th highs).