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9 Aug 2013
USD/JPY eyes the pivot
FXstreet.com (Barcelona) - USD/JPY climbed throughout NA session to reach a high overnight at 96.98 but had since fallen back below the pivot, 96.49, and now oscillates slightly above there in 96.50 territory.
“USD/JPY has fallen sharply over the past month but downside risks remain. Spec positioning remains heavily short JPY and seasonal factors may just be about to bite a little harder”, said research teams at TD Securities.
USD/JPY RSI approaching critical 30
USD/JPY is perhaps able to take a breather to the downside. The 20 dma 98.73, 50 dma 98.44, 200 dma 93.42. RSI (9) reads 36.28. Supports are ascending 95.42, 95.59, 95.81, 96.23. Spot is currently 96.51 while resistances are 96.98, 97.34, 97.55 and 97.88
“USD/JPY has fallen sharply over the past month but downside risks remain. Spec positioning remains heavily short JPY and seasonal factors may just be about to bite a little harder”, said research teams at TD Securities.
USD/JPY RSI approaching critical 30
USD/JPY is perhaps able to take a breather to the downside. The 20 dma 98.73, 50 dma 98.44, 200 dma 93.42. RSI (9) reads 36.28. Supports are ascending 95.42, 95.59, 95.81, 96.23. Spot is currently 96.51 while resistances are 96.98, 97.34, 97.55 and 97.88