Back
13 Sep 2013
USD/JPY remains under pressure
FXstreet.com (Córdoba) - The USD/JPY resumed the downside and slid to fresh daily lows during the New York session after the latest recovery attempt was capped by the 100.00 mark.
The USD/JPY was also weighed by weaker-than-expected US retail sales data and printed a low of 99.23 most recently. However, on a wider view, the pair remains well within its recent range as investors square positions ahead of the FOMC meeting next week.
USD/JPY holds bearish tone
At time of writing, USD/JPY is trading around 99.30, still 0.2% below its opening price. From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that the pair holds a strong bearish tone. The analyst places supports at 99.10, 98.60 and 98.20, while resistances are seen at 99.70, 100.10 and 100.40.
The USD/JPY was also weighed by weaker-than-expected US retail sales data and printed a low of 99.23 most recently. However, on a wider view, the pair remains well within its recent range as investors square positions ahead of the FOMC meeting next week.
USD/JPY holds bearish tone
At time of writing, USD/JPY is trading around 99.30, still 0.2% below its opening price. From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that the pair holds a strong bearish tone. The analyst places supports at 99.10, 98.60 and 98.20, while resistances are seen at 99.70, 100.10 and 100.40.