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17 Jul 2013
USD/JPY holds above 99.00
FXstreet.com (Córdoba) - The USD/JPY came under pressure and fell back toward the 99.00 area at the beginning of the New York session, after dovish comments from Fed Chairman, Bernanke.
USD/JPY waiting for Bernanke
Having dropped about 80 pips from daily highs, USD/JPY recently found support after hitting a daily low of 99.03 as investors await Bernanke's testimony and Q&A session before the Congress to start at 14:00GMT.
At time of writing, USD/JPY is trading at the 99.20 zone, where it is still a few pips above its opening price. As for technical levels, immediate supports are seen at 99.00 (psychological level) and 98.65 (Jul 12 low), while resistances could be found at 99.80 (daily high) and 100.00 (psychological level/200-hour SMA).
USD/JPY waiting for Bernanke
Having dropped about 80 pips from daily highs, USD/JPY recently found support after hitting a daily low of 99.03 as investors await Bernanke's testimony and Q&A session before the Congress to start at 14:00GMT.
At time of writing, USD/JPY is trading at the 99.20 zone, where it is still a few pips above its opening price. As for technical levels, immediate supports are seen at 99.00 (psychological level) and 98.65 (Jul 12 low), while resistances could be found at 99.80 (daily high) and 100.00 (psychological level/200-hour SMA).