Back
13 Jun 2013
USD/JPY hits fresh lows at 94.19 ahead of Europe
FXstreet.com (Barcelona) - The USD/JPY has extended its downside in post-lunch trading in Tokyo, with the trading now developing at the 94.40 following a new 3-month low of 94.19 after 94.50 support finally gave up.
Bearish picture upgraded
The break of support at 94.50, tested in 3 occasions through the 5 minutes charts before the sustained weakness got prolonged, suggests that further downside scope is now allowed. On the upside, 94.50 is expected to see offers comeback ahead of proven resistance at 94.90, which today managed to held the USD/JPY mild recovery post first initial sell-off.
Bearish picture upgraded
The break of support at 94.50, tested in 3 occasions through the 5 minutes charts before the sustained weakness got prolonged, suggests that further downside scope is now allowed. On the upside, 94.50 is expected to see offers comeback ahead of proven resistance at 94.90, which today managed to held the USD/JPY mild recovery post first initial sell-off.