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12 Aug 2013
USD/JPY capped at 94.74
FXstreet.com (Chicago) - USD/JPY accumulates 0.46% gains so far despite strong ceiling at 94.74.
Post GDP data released earlier in Japan sent the pair to reach higher edges close to all-month records. In the US, the monthly budget statement for July failed to meet expectations at $-96.0B to deteriorate at $-97.6B. Prior to BoJ’s monetary policy meeting minutes and machinery orders data, the pair trades at 96.68 between supports at 96.54 (August 9th highs), 96.41 (August 6th lows) ahead of 96.30 (June 11th highs) and resistances at 96.74 (June 17th highs), 96.85 (August 7th highs) followed by 97.00 (June 18th highs).
Already down 122 pips this month, Ashraf Laidi from City Index, notes that USD/JPY has fallen 13 of the past 15 years IN August, suggesting potential opportunities for shorting the pair. The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis.
Wreaking havoc
Post GDP data released earlier in Japan sent the pair to reach higher edges close to all-month records. In the US, the monthly budget statement for July failed to meet expectations at $-96.0B to deteriorate at $-97.6B. Prior to BoJ’s monetary policy meeting minutes and machinery orders data, the pair trades at 96.68 between supports at 96.54 (August 9th highs), 96.41 (August 6th lows) ahead of 96.30 (June 11th highs) and resistances at 96.74 (June 17th highs), 96.85 (August 7th highs) followed by 97.00 (June 18th highs).
Already down 122 pips this month, Ashraf Laidi from City Index, notes that USD/JPY has fallen 13 of the past 15 years IN August, suggesting potential opportunities for shorting the pair. The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis.
Wreaking havoc