Back
18 Apr 2013
Forex: USD/JPY declines into US session
FXstreet.com (Barcelona) - Having made a morning high at 98.52, USD/JPY has declined into the US session, and is currently down -0.02% on the day and trading at 98.12.
Having climbed this morning into the European open, the pair met resistance just below the daily R1 resistance at 96.64 before declining to where it is currently trading at 98.12 and finding a touch of near term support at the hourly 20MA at 98.13. This afternoons data has seen US Initial Jobless claims miss forecasts at 352k/347K, leading to the small sell off. Below price action, support can be seen at the psychologically round 98.00 region and the hourly 55 and 100 MA´s which have met at 97.95. Hourly stochastics are at 65 and not showing a significant directional bias, while RSI is at 51 and moving within a longer term ranging direction which has held since the start of the week.
Having climbed this morning into the European open, the pair met resistance just below the daily R1 resistance at 96.64 before declining to where it is currently trading at 98.12 and finding a touch of near term support at the hourly 20MA at 98.13. This afternoons data has seen US Initial Jobless claims miss forecasts at 352k/347K, leading to the small sell off. Below price action, support can be seen at the psychologically round 98.00 region and the hourly 55 and 100 MA´s which have met at 97.95. Hourly stochastics are at 65 and not showing a significant directional bias, while RSI is at 51 and moving within a longer term ranging direction which has held since the start of the week.