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19 Aug 2013
USD/JPY eyes 97.80 resistance
FXstreet.com (Barcelona) - USD/JPY is rising in London after dropping over 100 pips sinnce Thursday.
The performance of the US dollar continues to remain divided in the
near term weakening gradually against the other G10 currencies but strengthening against riskier emerging market currencies. Over the past week evidence of that the US housing market and labour market continues toheal has reinforced expectations that the Fed will begin to taper QE in the September helping to lift US yields to fresh highs. The release of the latest FOMC minutes from the 30th-31st July meeting will be in focus Wednesday further any further clues over the potential timing of QE tapering by the Fed.
USD/JPY rising channel
The USD/JPY is bid in London with the 20 dma is 98.13, the 50 dma is 98.32, and the 200 dma 93.86. RSI (9) reads 46.11. Supports are ascenending from 96.40, 96.88, 96.98, 97.19. Spot is 97.64 while resistances are 97.87, 98.03, 98.28 and 98.55.
The performance of the US dollar continues to remain divided in the
near term weakening gradually against the other G10 currencies but strengthening against riskier emerging market currencies. Over the past week evidence of that the US housing market and labour market continues toheal has reinforced expectations that the Fed will begin to taper QE in the September helping to lift US yields to fresh highs. The release of the latest FOMC minutes from the 30th-31st July meeting will be in focus Wednesday further any further clues over the potential timing of QE tapering by the Fed.
USD/JPY rising channel
The USD/JPY is bid in London with the 20 dma is 98.13, the 50 dma is 98.32, and the 200 dma 93.86. RSI (9) reads 46.11. Supports are ascenending from 96.40, 96.88, 96.98, 97.19. Spot is 97.64 while resistances are 97.87, 98.03, 98.28 and 98.55.