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1 Apr 2013
Forex: USD/JPY dips further, 94.00 holds
FXstreet.com (Barcelona) - Following soft Tankan survey in Japan and disappointing China PMI manufacturing below expectations although still above previous one, and few minutes away from China HSBC final PMI Manufacturing, Nikkei index is down -1% and USD/JPY at 94.17, about flat for the session.
The pair retraces from session highs at 94.38 printed in the moments before the Tankan survey was released, and recovers from a session low at 93.96 after a sudden spike to the downside in the retail market, while USD is having a push higher against EUR, CHF, GBP and AUD, and Gold is also inching higher.
Immediate support to the downside for USD/JPY lies at recent session/March 26 lows 94.00/93.96, followed by Thursday's/Friday's lows at 93.86, and March 25 lows at 93.50. To the upside, closest resistance shows at March 22 lows 94.20, followed by session highs 94.38, and March 21 lows at 94.50.
The pair retraces from session highs at 94.38 printed in the moments before the Tankan survey was released, and recovers from a session low at 93.96 after a sudden spike to the downside in the retail market, while USD is having a push higher against EUR, CHF, GBP and AUD, and Gold is also inching higher.
Immediate support to the downside for USD/JPY lies at recent session/March 26 lows 94.00/93.96, followed by Thursday's/Friday's lows at 93.86, and March 25 lows at 93.50. To the upside, closest resistance shows at March 22 lows 94.20, followed by session highs 94.38, and March 21 lows at 94.50.