Back
18 Oct 2013
USD/JPY falls to 1-week low
FXstreet.com (Córdoba) - The USD/JPY came under pressure during the European session, deepening the decline on the break of the 97.75/70 zone.
USD/JPY bearish outlook
Weighed by lower US yields, USD/JPY broke below several support levels and slipped to a fresh 1-week low at 97.55 before bouncing slightly. "Outlook here remains bearish below 98.10 resistance zone, for a break through 97.50 support, en route to 96.56 low", says Stoyan Mihaylov, analyst at DeltaStock.com. "Crucial on the upside is 98.40".
USD/JPY technical levels
At time of writing, USD/JPY is trading at the 97.60 area, 0.3% below its opening price, with immediate supports seen at 97.55 (daily low), 97.30 (Oct 10 low) and 97.15 (200-day SMA). On the upside, resistances could be found at 98.15 (daily high) and 98.38 (100-day SMA).
USD/JPY bearish outlook
Weighed by lower US yields, USD/JPY broke below several support levels and slipped to a fresh 1-week low at 97.55 before bouncing slightly. "Outlook here remains bearish below 98.10 resistance zone, for a break through 97.50 support, en route to 96.56 low", says Stoyan Mihaylov, analyst at DeltaStock.com. "Crucial on the upside is 98.40".
USD/JPY technical levels
At time of writing, USD/JPY is trading at the 97.60 area, 0.3% below its opening price, with immediate supports seen at 97.55 (daily low), 97.30 (Oct 10 low) and 97.15 (200-day SMA). On the upside, resistances could be found at 98.15 (daily high) and 98.38 (100-day SMA).