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14 May 2013
Forex: USD/JPY eases to 101.50 support
FXstreet.com (Barcelona) - Following better than expected Japan April Domestic corporate goods price index data coming out at 0.0% y/y vs -0.2% expected, and with Japan Fin Min Aso speaking to reporters in Tokyo while market opens, USD/JPY has been sold off to recent session lows at 101.53, where bids have been reported.
The pair comes from barely below the 102.00 handle by late NY trade, with Nikkei index opening above the 14800 points mark, up +0.23%. As ForexLive editor Eamonn Sheridan reports: “Bids from 101.50 and down from there, with offers 102.20 and then through to 102.50 (option-related selling, sovereign names featuring heavily),” Eamonn notes. USD/JPY is last at 101.62, off mentioned lows.
Immediate support to the downside lies at mentioned session/weekly lows 101.52/3, followed by Friday's Asian session highs at 101.20, and Thursday's highs at 100.80. To the upside, closest resistance shows at mentioned NY session/Friday's highs 101.98, followed by yesterday's fresh 5-year highs at 102.14, and Dec 31 2004 lows at 102.30.
The pair comes from barely below the 102.00 handle by late NY trade, with Nikkei index opening above the 14800 points mark, up +0.23%. As ForexLive editor Eamonn Sheridan reports: “Bids from 101.50 and down from there, with offers 102.20 and then through to 102.50 (option-related selling, sovereign names featuring heavily),” Eamonn notes. USD/JPY is last at 101.62, off mentioned lows.
Immediate support to the downside lies at mentioned session/weekly lows 101.52/3, followed by Friday's Asian session highs at 101.20, and Thursday's highs at 100.80. To the upside, closest resistance shows at mentioned NY session/Friday's highs 101.98, followed by yesterday's fresh 5-year highs at 102.14, and Dec 31 2004 lows at 102.30.