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13 Aug 2013
The USD/JPY's rally knocks into the 98.25 resistance
FXstreet.com (San Francisco) - After rallying around 100 pips since the 97.15 reached in the Asian overnight session, the USD/JPY jumped to trade above the 89.00 area but it was rejected by the 98.25 resistance.
Currently, the USD/JPY is trading around 98.10, 1.25% positive on the day. The short term perspective is slightly bullish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as Momentum, CCI and the MACD are pointing to the north while the Stochastic is bearish.
USD/JPY technical levels
Technically speaking, the USD/JPY has bulled its way through resistance at 98.05, and will now look to face its next hurdle at the 98.23 level, calculates the Danske Research Team. Above the 98.25, next resistances are at 98.55 and 98.75. On the downside, supports are at 98.00, 97.60 and 96.95.
Currently, the USD/JPY is trading around 98.10, 1.25% positive on the day. The short term perspective is slightly bullish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as Momentum, CCI and the MACD are pointing to the north while the Stochastic is bearish.
USD/JPY technical levels
Technically speaking, the USD/JPY has bulled its way through resistance at 98.05, and will now look to face its next hurdle at the 98.23 level, calculates the Danske Research Team. Above the 98.25, next resistances are at 98.55 and 98.75. On the downside, supports are at 98.00, 97.60 and 96.95.