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12 Aug 2013
USD/JPY consolidating bearish run
FXstreet.com (Barcelona) - USD/JPY was capped at 97.00 in Asian markets on Friday and has since been declining to meet an overnight low of 0.9593.
Research teams at TD Securities said “Regional currencies are locked in tight ranges, with the only notable move being in USDJPY. A weaker-than-expected Japan Q2 GDP (+2.6% annualised vs consensus 3.6%) temporarily pushed USDJPY down 50 pips to a low of 95.93, but the move has been all but erased as we write as the cross is back at ~96.40. Asian bourses are mostly higher, led by the Hang Seng (+1.7%), but the Nikkei (-0.60%) seemed rattled by the softer GDP figures". The calandar is light for today, but for this week, we will see some life in the pair with US job data at the end of the week, but first up we will have the BoJ minutes overnight.
USD/JPY technically bearish but RSI signals a possible pause
USD/JPY has been falling steadily all of last week finding lows around 95.80. The pair is consolidating between here and 97.00. The 20 dma is 98.53, 50 dma 98.36, and 200 dma 93.49. RSI (9) reads 33.47 and offers an indication of a temporary pause to the bear trend. Supports are ascending from 95.42, 95.59, 95.81, and 96.28. Spot is currently 96.48 while resistances are 96.64, 96.81, 96.98 and 97.36.
Research teams at TD Securities said “Regional currencies are locked in tight ranges, with the only notable move being in USDJPY. A weaker-than-expected Japan Q2 GDP (+2.6% annualised vs consensus 3.6%) temporarily pushed USDJPY down 50 pips to a low of 95.93, but the move has been all but erased as we write as the cross is back at ~96.40. Asian bourses are mostly higher, led by the Hang Seng (+1.7%), but the Nikkei (-0.60%) seemed rattled by the softer GDP figures". The calandar is light for today, but for this week, we will see some life in the pair with US job data at the end of the week, but first up we will have the BoJ minutes overnight.
USD/JPY technically bearish but RSI signals a possible pause
USD/JPY has been falling steadily all of last week finding lows around 95.80. The pair is consolidating between here and 97.00. The 20 dma is 98.53, 50 dma 98.36, and 200 dma 93.49. RSI (9) reads 33.47 and offers an indication of a temporary pause to the bear trend. Supports are ascending from 95.42, 95.59, 95.81, and 96.28. Spot is currently 96.48 while resistances are 96.64, 96.81, 96.98 and 97.36.