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22 Nov 2013
USD/JPY grinding higher towards critical resistance at 101.46
FXstreet.com (Barcelona) - USD/JPY peaked out just before midnight GMT, corrected lower for just over an hour and is now gathering up steam for another try at new session highs - and perhaps a move up to the 101.46 - 101.53 range.
USD/JPY traders waiting for BOJ survey
USD/JPY traders will be watching the release and reaction surrounding the Bank of Japan’s Monthly Economic Survey at 05:00 GMT.
Technical outlook for USD/JPY
Technicians are saying the USD/JPY faces key macro resistance at 101.46 (to possibly 101.53). The next resistance / target above that is the Fibonacci-generated 103.29. Support for the cross comes in at last Friday’s close at 100.17 and is followed up by Tuesday’s low of 99.56.
USD/JPY traders waiting for BOJ survey
USD/JPY traders will be watching the release and reaction surrounding the Bank of Japan’s Monthly Economic Survey at 05:00 GMT.
Technical outlook for USD/JPY
Technicians are saying the USD/JPY faces key macro resistance at 101.46 (to possibly 101.53). The next resistance / target above that is the Fibonacci-generated 103.29. Support for the cross comes in at last Friday’s close at 100.17 and is followed up by Tuesday’s low of 99.56.