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11 Sep 2013
USD/JPY consolidates above 100.00
FXstreet.com (Edinburgh) -The USD/JPY is advancing for the second consecutive week so far, boosted by the prevailing risk appetite trends and the easing bias from the last BoJ minutes.
USD/JPY next stop 101.00?
Easing concerns regarding a US-Syria confrontation have ignited increasing inflows into riskier assets in detriment of the safe haven JPY. Recent news that Tokyo will host the 2020 Olympics have collaborated in the selling interest around the yen, boosting the Nikkei instead. In the opinion of Emmanuel Ng, Strategist at OCBC Bank, “Buoyant JPY crosses on the back of sanguine investor sentiment may continue to keep the USD-JPY tilted higher. Expect an initial sticking point towards the 100.90 if the century mark is breached successfully while support is expected on dips towards 99.50”.
USD/JPY tech levels
The pair is now losing 0.15% at 100.21 with the next support at 100.07 (low Sep.11) followed by 99.82 (61.8% of 99.35-100.62) and finally 99.47 (low Sep.10). on the upside, a break above 100.62 (high Sep.11) would open the door to 101.05 (high Jul.22) and then 101.22 (high Jul.10).
USD/JPY next stop 101.00?
Easing concerns regarding a US-Syria confrontation have ignited increasing inflows into riskier assets in detriment of the safe haven JPY. Recent news that Tokyo will host the 2020 Olympics have collaborated in the selling interest around the yen, boosting the Nikkei instead. In the opinion of Emmanuel Ng, Strategist at OCBC Bank, “Buoyant JPY crosses on the back of sanguine investor sentiment may continue to keep the USD-JPY tilted higher. Expect an initial sticking point towards the 100.90 if the century mark is breached successfully while support is expected on dips towards 99.50”.
USD/JPY tech levels
The pair is now losing 0.15% at 100.21 with the next support at 100.07 (low Sep.11) followed by 99.82 (61.8% of 99.35-100.62) and finally 99.47 (low Sep.10). on the upside, a break above 100.62 (high Sep.11) would open the door to 101.05 (high Jul.22) and then 101.22 (high Jul.10).