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17 Jul 2013
USD/JPY gravitates towards 99.60 resistance
FXstreet.com (New York) - The USD/JPY foreign exchange rate has been sporadically swiveling during US trading in the aftermath of the Bernanke speech earlier Wednesday.
Following the uneven performance of the USD/JPY, pair is now navigating the area of 99.63, still securing a steadfast advance of +0.59% during US trading. Resistances for the USD/JPY will be tested at 99.65, onto 100.10, and 100.49, notes the Danske Research Team.
USD/JPY strategic bias
According to Karen Jones, an analyst at Commerzbank, “The USD/JPY remained below its 101.60 78.6% retracement and attention remains on the base of the cloud circa 98.15. It remains sandwiched between these two levels, but we suspect that overall risk is on the downside.”
Following the uneven performance of the USD/JPY, pair is now navigating the area of 99.63, still securing a steadfast advance of +0.59% during US trading. Resistances for the USD/JPY will be tested at 99.65, onto 100.10, and 100.49, notes the Danske Research Team.
USD/JPY strategic bias
According to Karen Jones, an analyst at Commerzbank, “The USD/JPY remained below its 101.60 78.6% retracement and attention remains on the base of the cloud circa 98.15. It remains sandwiched between these two levels, but we suspect that overall risk is on the downside.”