3 Jul 2013
USD/JPY moves off lows
FXstreet.com (Córdoba) - The USD/JPY managed to trim some of its recent loses following the latest string of US data, which showed solid employment readings.
USD/JPY recovery capped by 99.80
USD/JPY bounced from a low of 99.25 only to stall at the 99.80 zone as the pair lacked momentum to extend the correction. At time of writing, USD/JPY is trading at the 99.70 zone, still down 0.9% on the day. Looking ahead, the US calendar is not done yet, with the release of June ISM services PMI due for 14:00GMT.
As for technical levels, immediate supports for USD/JPY could be found at 99.25 (daily low), 99.15 (Jul 1 low) and 99.00 (psychological level), while resistances could now be faced at 99.80 (intraday level) and 100.00 (psychological level).
USD/JPY recovery capped by 99.80
USD/JPY bounced from a low of 99.25 only to stall at the 99.80 zone as the pair lacked momentum to extend the correction. At time of writing, USD/JPY is trading at the 99.70 zone, still down 0.9% on the day. Looking ahead, the US calendar is not done yet, with the release of June ISM services PMI due for 14:00GMT.
As for technical levels, immediate supports for USD/JPY could be found at 99.25 (daily low), 99.15 (Jul 1 low) and 99.00 (psychological level), while resistances could now be faced at 99.80 (intraday level) and 100.00 (psychological level).