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3 Oct 2013
USD/JPY extends decline below 97.30
FXstreet.com (San Francisco) - The Dollar is getting hurt today's session following the weaker than expected jobless claims and ISM non-manufacturing reports. Against the Japan Yen, the Greenback is now trading around 97.30.
After declining around 55 pips from 97.85 to break below 97.50, the USD/JPY has reached intra-day lows around 97.25. Currently the pair is pricing at 97.32, almost flat on the day.
Short term perspective is slightly bearish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as CCI and Momentum are pointing to the south while the Stochastic and MACD are neutral.
USD/JPY Technical Bias
According to FXstreet.com Chief Analyst Valeria Bednarik, "USD/JPY attempt to recovery halted around 97.80, with the pair turning back south early US session." Support levels are at 97.20, 96.80 and 96.40. Resistance levels are at 98.00, 98.40 and 98.80.
After declining around 55 pips from 97.85 to break below 97.50, the USD/JPY has reached intra-day lows around 97.25. Currently the pair is pricing at 97.32, almost flat on the day.
Short term perspective is slightly bearish according to the FXstreet.com trend index in the 1-hour chart. Indicators such as CCI and Momentum are pointing to the south while the Stochastic and MACD are neutral.
USD/JPY Technical Bias
According to FXstreet.com Chief Analyst Valeria Bednarik, "USD/JPY attempt to recovery halted around 97.80, with the pair turning back south early US session." Support levels are at 97.20, 96.80 and 96.40. Resistance levels are at 98.00, 98.40 and 98.80.