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3 May 2013
Forex: USD/JPY retreats off highs to 98.14/18
FXstreet.com (Barcelona) - The USD/JPY got off to a hot start, peaking early at 98.26 (session high) Friday during European trading. In recent moments however, the cross has retreated slightly to trade at 98.14/18, though still holding positively at +0.25% ahead of the Nonfarm Payrolls later today in the US.
Mataf.net analysts point to resistive means for the USD/JPY at 98.57, onto 99.12, and ultimately 99.84. Alternatively, a movement below the 97.29 supportive structure will trigger additional means of correction at 96.57 and 96.01.
According to the Technical Analyst Team “The USD/JPY failed our bearish expectations yesterday with the breakout and consolidation above 97.80. Trading now above this level is now positive and might extend bullishness.”
Mataf.net analysts point to resistive means for the USD/JPY at 98.57, onto 99.12, and ultimately 99.84. Alternatively, a movement below the 97.29 supportive structure will trigger additional means of correction at 96.57 and 96.01.
According to the Technical Analyst Team “The USD/JPY failed our bearish expectations yesterday with the breakout and consolidation above 97.80. Trading now above this level is now positive and might extend bullishness.”