12 Sep 2013
USD/JPY points back up; targets 99.50
FXstreet.com (Chicago) - USD/JPY has declined 0.51% so far. After hitting 99.01 bottoms and falling from 100.01 key psychological highs, the pair attempts to consolidate a reversal ahead of the American trading session closing.
For how much will the Fed taper?
Rumors continue on the amount chosen by the Fed to start tapering the bond-buying program. After better than expected initial jobless claims at 292K vs. past 323K and expected 330K, the concerns on tapering rose back up. The monthly budget statement was just released at $-147.9B vs. past $-97.6B.
USD/JPY Technical Levels
Price action reveals the pair consolidates a reversal after reaching 00.01 lows a few hours back. Offered at 99.44, the pair navigates between supports at 99.32 (July 18th lows), 99.00 (July 14th lows) ahead of 98.64 (August 15th highs) and resistances at 99.86 (September 3rd highs), 100.14 (September 7th highs) followed by 100.46 (July 24th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and remains below EMA20.
For how much will the Fed taper?
Rumors continue on the amount chosen by the Fed to start tapering the bond-buying program. After better than expected initial jobless claims at 292K vs. past 323K and expected 330K, the concerns on tapering rose back up. The monthly budget statement was just released at $-147.9B vs. past $-97.6B.
USD/JPY Technical Levels
Price action reveals the pair consolidates a reversal after reaching 00.01 lows a few hours back. Offered at 99.44, the pair navigates between supports at 99.32 (July 18th lows), 99.00 (July 14th lows) ahead of 98.64 (August 15th highs) and resistances at 99.86 (September 3rd highs), 100.14 (September 7th highs) followed by 100.46 (July 24th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and remains below EMA20.