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12 Jun 2013
USD/JPY breaks below 96.00
FXstreet.com (Córdoba) - After failing to overcome the 97.00 mark, USD/JPY weakened and resumed the decline, dipping below the 96.00 level during the American session.
USD/JPY threatens key support
USD/JPY has dropped over 120 pips from daily highs to hit a low of 95.57 in recent dealings as stocks lose momentum in Wall Street and USD resumes its recent fall weighed by ongoing speculation the Fed could taper its QE program.
At time of writing, USD/JPY is trading at the 95.60 area, where it records a 0.4% loss on the day. If USD/JPY breaks decisively below the 95.60/57, next supports are seen at 94.94 (Jun 7 low) and 94.35 (Apr 1 high), while resistances could be found at 96.55 (100-day SMA) and 97.00 (daily high/psychological level).
USD/JPY threatens key support
USD/JPY has dropped over 120 pips from daily highs to hit a low of 95.57 in recent dealings as stocks lose momentum in Wall Street and USD resumes its recent fall weighed by ongoing speculation the Fed could taper its QE program.
At time of writing, USD/JPY is trading at the 95.60 area, where it records a 0.4% loss on the day. If USD/JPY breaks decisively below the 95.60/57, next supports are seen at 94.94 (Jun 7 low) and 94.35 (Apr 1 high), while resistances could be found at 96.55 (100-day SMA) and 97.00 (daily high/psychological level).