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4 Oct 2013
USD/JPY consolidating with a negative bias
FXstreet.com (London) - USD/JPY has dropped and dipped below the 97.00 handle on three occasions since yesterday and is consolidating around the figure but remains heavy.
The BoJ overnight voted unanimously to keep the key policy rate unchanged at 0.1%. The bank expects a ‘moderate recovery in Japan going forward. Kuichi’s proposal to have “extensive easing” for two years is defeated 8-1. Meanwhile the dollar may come under pressure as we end the week and still the US Government remains in partial shutdown. However, According to the WSJ, top Republicans might be able to make a deal on a broader budget deal to fund the US government which might also include an agreement to raise the debt ceiling at the same time.
USD/JPY Levels
The 20 DMA is 98.84, the 50 DMA is 98.38 and the 200 DMA is 96.57. RSI (14) prints 43.04. Supports are ascending from 96.40, 96.79 and 96.93. Spot is currently 97.20. Resistances are 97.54, 97.88, 98.09 and 98.30.
The BoJ overnight voted unanimously to keep the key policy rate unchanged at 0.1%. The bank expects a ‘moderate recovery in Japan going forward. Kuichi’s proposal to have “extensive easing” for two years is defeated 8-1. Meanwhile the dollar may come under pressure as we end the week and still the US Government remains in partial shutdown. However, According to the WSJ, top Republicans might be able to make a deal on a broader budget deal to fund the US government which might also include an agreement to raise the debt ceiling at the same time.
USD/JPY Levels
The 20 DMA is 98.84, the 50 DMA is 98.38 and the 200 DMA is 96.57. RSI (14) prints 43.04. Supports are ascending from 96.40, 96.79 and 96.93. Spot is currently 97.20. Resistances are 97.54, 97.88, 98.09 and 98.30.