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30 Jun 2014
USD/JPY pressures are mounting to downside
FXStreet (Guatemala) - USD/JPY is trading at 101.32, down -0.09% on the day, having posted a daily high at 101.49 and low at 101.24.
USD/JPY MA’s are continuing to mount up the pressure on the pair and Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained "USD/JPY short-term technicals: bearish technical studies warn of USDJPY downside. Accordingly for near-term traders we favour being short USDJPY." Meanwhile, Valeria Bednarik, chief analyst at FXStreet noted that in the 4 hours chart, technical readings are biased lower in negative territory, with a break below mentioned support pointing for a quick test of 100.70 price zone, this year lows.
USD/JPY Levels
Spot is presently trading at 101.32, and next resistance can be seen at 101.35 (Hourly 20 EMA), 101.41 (Monthly Low), (Weekly Low), 101.47 (Daily Open) and 101.49 (Daily Classic PP). Next support to the downside can be found at 101.31 (Yesterday's Low), 101.24 (Daily Classic S1), (Daily Low), 101.09 (Weekly Classic S1) and 101.06 (Daily Classic S2).
USD/JPY MA’s are continuing to mount up the pressure on the pair and Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained "USD/JPY short-term technicals: bearish technical studies warn of USDJPY downside. Accordingly for near-term traders we favour being short USDJPY." Meanwhile, Valeria Bednarik, chief analyst at FXStreet noted that in the 4 hours chart, technical readings are biased lower in negative territory, with a break below mentioned support pointing for a quick test of 100.70 price zone, this year lows.
USD/JPY Levels
Spot is presently trading at 101.32, and next resistance can be seen at 101.35 (Hourly 20 EMA), 101.41 (Monthly Low), (Weekly Low), 101.47 (Daily Open) and 101.49 (Daily Classic PP). Next support to the downside can be found at 101.31 (Yesterday's Low), 101.24 (Daily Classic S1), (Daily Low), 101.09 (Weekly Classic S1) and 101.06 (Daily Classic S2).