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11 Sep 2013
USD/JPY stalls below 100.50 at 8-week highs
FXstreet.com (Barcelona) - The USD/JPY foreign exchange rate is last trading at 100.41 off recent session and fresh 8-week highs at 100.46, a +1.32% higher for the week, ahead of Japan BSI manufacturing index at 23:50 GMT and Nikkei futures pointing for a higher open.
USD/JPY upside favored
“The technical picture in the short term gives not much clues on upcoming movements, with indicators flat in overbought territory,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “Bigger time frames however favor the upside, with the daily chart showing higher lows daily basis.”
USD/JPY key technical levels
Bednarik finds support levels at: 100.10, 99.60 and 99.20, while resistance levels at: 100.40, 100.70 and 101.00.
USD/JPY upside favored
“The technical picture in the short term gives not much clues on upcoming movements, with indicators flat in overbought territory,” said Valeria Bednarik, Chief Analyst at Fxstreet.com, adding: “Bigger time frames however favor the upside, with the daily chart showing higher lows daily basis.”
USD/JPY key technical levels
Bednarik finds support levels at: 100.10, 99.60 and 99.20, while resistance levels at: 100.40, 100.70 and 101.00.