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15 Jul 2013
USD/JPY flat above 99.00 with Tokyo closed
FXstreet.com (Barcelona) - The USD/JPY foreign exchange rate is last trading at 99.27 following China GDP data release at 7.5% for 2Q y/y, with Tokyo markets closed for holiday.
USD/JPY starts with neutral stance
According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “The USD/JPY starts the week with a pretty neutral stance, holding however above 99.00 but unable to take over 100.00. The hourly chart shows 100 SMA crossing to the downside 200 one above current price which favors the downside although a break below 98.60 is required to confirm a bearish continuation, not quite clear with price at current levels.”
USD/JPY key technical levels
Bednarik locates support levels at: 99.20, 98.80 and 98.30, while resistance levels at: 99.80, 100.30 and 100.70.
USD/JPY starts with neutral stance
According to Valeria Bednarik, Chief Analyst at Fxstreet.com: “The USD/JPY starts the week with a pretty neutral stance, holding however above 99.00 but unable to take over 100.00. The hourly chart shows 100 SMA crossing to the downside 200 one above current price which favors the downside although a break below 98.60 is required to confirm a bearish continuation, not quite clear with price at current levels.”
USD/JPY key technical levels
Bednarik locates support levels at: 99.20, 98.80 and 98.30, while resistance levels at: 99.80, 100.30 and 100.70.