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13 Jun 2013
USD/JPY stuck at 94.38
FXstreet.com (New York) - The USD/JPY experienced another staunch selloff overnight, seeing extended losses during European trading that bottomed out at 93.79 (session low).
USD/JPY under heavy pressure
According to Karen Jones, an analyst at Commerzbank, “The USD/JPY remains under pressure and has taken out cloud support at 95.40. Moreover, the 93.58 and 38.2% Fibonacci retracement of the 2012-13 rise and then possibly the 90.43 50% retracement are being targeted.”
USD/JPY trading above first support
At the time of writing, the USD/JPY is firmly entrenched in negative territory Thursday, negotiating an exchange of 94.38, down -1.71% on the day thus far. Following a break below support at 94.62, the Mataf.net analyst team calculates the next supportive measures for the USD/JPY at 93.93, then 93.73.
USD/JPY under heavy pressure
According to Karen Jones, an analyst at Commerzbank, “The USD/JPY remains under pressure and has taken out cloud support at 95.40. Moreover, the 93.58 and 38.2% Fibonacci retracement of the 2012-13 rise and then possibly the 90.43 50% retracement are being targeted.”
USD/JPY trading above first support
At the time of writing, the USD/JPY is firmly entrenched in negative territory Thursday, negotiating an exchange of 94.38, down -1.71% on the day thus far. Following a break below support at 94.62, the Mataf.net analyst team calculates the next supportive measures for the USD/JPY at 93.93, then 93.73.