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18 Jun 2013
USD/JPY jumps to session highs
FXstreet.com (New York) - The USD/JPY technical pair bolted higher during European trading, establishing fresh session highs at 94.45 Tuesday.
USD/JPY must reside above 93.55 to avert bearish extension
According to the Technical Analyst Team at ICN.com, “The USD/JPY is fluctuating within a limited range below its linear regression indicator 34, keeping the possibility of a downside move valid. The pair will face a barrier before extending bearishness, which is 38.2% correction at 93.55. Ultimately however, breaking 93.55 levels might get the pair into a new downside wave.”
At the time of writing, the USD/JPY is exploding higher at a rate of +0.90%, negotiating an exchange rate of 95.35. After moving above resistance at 95.24, the Mataf.net analyst team points to the next corrective measures for the pair at 95.70, onto 96.18.
USD/JPY must reside above 93.55 to avert bearish extension
According to the Technical Analyst Team at ICN.com, “The USD/JPY is fluctuating within a limited range below its linear regression indicator 34, keeping the possibility of a downside move valid. The pair will face a barrier before extending bearishness, which is 38.2% correction at 93.55. Ultimately however, breaking 93.55 levels might get the pair into a new downside wave.”
At the time of writing, the USD/JPY is exploding higher at a rate of +0.90%, negotiating an exchange rate of 95.35. After moving above resistance at 95.24, the Mataf.net analyst team points to the next corrective measures for the pair at 95.70, onto 96.18.