Back
6 Aug 2013
USD/JPY, Houston, do we have a problem?
FXstreet.com (Chicago) - USD/JPY cracked down as losses added up to 0.37% throughout Tuesday’s session.
Amid speculations on Fed’s adjustments to the US stimulus package, the yen strengthened against a greenback in pain. Hitting a two-week lows on weak corporate earnings reports, with the Nikkei index down 1.36%. In the US, indexes were back to Earth as Dow closed 0.30% down and S&P lost 0.15% but maintained 1707.14 levels.
Technically speaking, the pair was reported as slightly bearish on one-hour timeframe analysis by the FXstreet trend index. Trading below all moving averages (20, 50, and 200) for the short and long hauls, the pair accumulated 0.97% losses this week. Supports were identified at 97.57 (intraday lows), 97.75 (July 30th lows) and 97.83 (July 31st lows) and resistances were set at 98.17 (July 27 highs), 98.33 (July 20 highs) ahead of 98.43 (July 31st highs).
Amid speculations on Fed’s adjustments to the US stimulus package, the yen strengthened against a greenback in pain. Hitting a two-week lows on weak corporate earnings reports, with the Nikkei index down 1.36%. In the US, indexes were back to Earth as Dow closed 0.30% down and S&P lost 0.15% but maintained 1707.14 levels.
Technically speaking, the pair was reported as slightly bearish on one-hour timeframe analysis by the FXstreet trend index. Trading below all moving averages (20, 50, and 200) for the short and long hauls, the pair accumulated 0.97% losses this week. Supports were identified at 97.57 (intraday lows), 97.75 (July 30th lows) and 97.83 (July 31st lows) and resistances were set at 98.17 (July 27 highs), 98.33 (July 20 highs) ahead of 98.43 (July 31st highs).