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12 Jul 2013
USD/JPY settles above 99.00
FXstreet.com (Córdoba) - Despite intraday volatility, the USD/JPY has been unable to break out of its recent range and remains in consolidation ahead of the weekly close.
USD/JPY holds onto mild gains
USD/JPY was rejected from highs and fell from the 99.70 area to a low of 98.87 throughout the New York session, only to bounce back to the 99.35 region, where it is trading at time of writing, still 0.4% above its opening price.
In terms of technical levels, if USD/JPY breaks above 99.70, next resistances could be found at 99.90 (Jul 11 high) and 100.00 (psychological level), while supports are seen at 98.65 (daily low) and 98.20 (Jul 11 low).
USD/JPY holds onto mild gains
USD/JPY was rejected from highs and fell from the 99.70 area to a low of 98.87 throughout the New York session, only to bounce back to the 99.35 region, where it is trading at time of writing, still 0.4% above its opening price.
In terms of technical levels, if USD/JPY breaks above 99.70, next resistances could be found at 99.90 (Jul 11 high) and 100.00 (psychological level), while supports are seen at 98.65 (daily low) and 98.20 (Jul 11 low).