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6 Sep 2013
USD/JPY collapses on weak non-farm payrolls and Syria concerns
FXstreet.com (San Francisco) - The US Dollar is trading under pressure across the market following the weaker than expected US Non Farm Payrolls data and now by the recent Russia's president Vladimir Puttin speech about Syria.
Putin said that Russia will help Syria if attacked. They are already sending weapons.
After falling around 130 pips in the latest two hours from 99.85, the USD/JPY has broken down the 99.50 area and 98.75 200 hours MA level to test the 98.50 zone. Currently the pair is trading at 98.65, 1.46% negative on the day.
USD/JPY bias
The short term perspective remains slightly bearish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
Below the 98.50, the USD/JPY would face next supports at 98.30, 97.80 and 96.85. On the upside, resistances are at 99.50, 99.95 and 100.15.
Putin said that Russia will help Syria if attacked. They are already sending weapons.
After falling around 130 pips in the latest two hours from 99.85, the USD/JPY has broken down the 99.50 area and 98.75 200 hours MA level to test the 98.50 zone. Currently the pair is trading at 98.65, 1.46% negative on the day.
USD/JPY bias
The short term perspective remains slightly bearish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is bullish.
Below the 98.50, the USD/JPY would face next supports at 98.30, 97.80 and 96.85. On the upside, resistances are at 99.50, 99.95 and 100.15.