Back
12 Apr 2013
Forex: USD/JPY recovers the mark of 99.35/37
FXstreet.com (Barcelona) - The USD/JPY has stabilized and bounced off a session low of 99.21 Friday, successfully avoiding a plunge lower. In these moments the cross has recovered the mark of 99.35/37, though is still trading negatively at -0.33% below its opening.
Mataf.net analysts point to supports for the USD/JPY at 99.18, then 98.73, and finally 98.35. Should any losses be pared, resistances lie ahead at 100.01, then 100.40, up to 100.85.
“The upside push is affected by the resistance level at 99.85 that managed to cap the upside push. Meanwhile, Linear Regression Indicators are positive in addition trading in an ascending channel, therefore we cannot bet on deep bearish corrections.” notes the ICN.com analyst team.
Mataf.net analysts point to supports for the USD/JPY at 99.18, then 98.73, and finally 98.35. Should any losses be pared, resistances lie ahead at 100.01, then 100.40, up to 100.85.
“The upside push is affected by the resistance level at 99.85 that managed to cap the upside push. Meanwhile, Linear Regression Indicators are positive in addition trading in an ascending channel, therefore we cannot bet on deep bearish corrections.” notes the ICN.com analyst team.