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16 Sep 2013
USD/JPY regains 99.00
FXstreet.com (Edinburgh) -The USD continues its recovery on Monday, lifting the USD/JPY to a new visit of the 99.00 handle and posting fresh intraday highs at the same moment.
USD/JPY trying to close the gap
After bottoming in the 98.65/60 region during the European morning, the pair managed to gather steam and recover the key 99.00 level and is currently attempting to close today’s gap. “There is a very obvious lack of momentum on the daily and weekly charts to support gains and some signs of potential trouble on the short-term chart for the USD move up. A minor top/reversal pattern forming up on the 6-hour chart suggests that weakness below the 99 area could trigger a drop back to the 97.00/50 range”, suggested analysts at TD Securities.
USD/JPY levels to consider
The pair is now losing 0.31% at 99.06 with the next hurdle at 99.98 (high Sep.13) followed by 99.99 (high Sep.12) and the psychological level at 100.00. On the downside, a break below 98.64 (low Sep.16) would expose 98.28 (cloud top) and then 98.27 (low Sep.2).
USD/JPY trying to close the gap
After bottoming in the 98.65/60 region during the European morning, the pair managed to gather steam and recover the key 99.00 level and is currently attempting to close today’s gap. “There is a very obvious lack of momentum on the daily and weekly charts to support gains and some signs of potential trouble on the short-term chart for the USD move up. A minor top/reversal pattern forming up on the 6-hour chart suggests that weakness below the 99 area could trigger a drop back to the 97.00/50 range”, suggested analysts at TD Securities.
USD/JPY levels to consider
The pair is now losing 0.31% at 99.06 with the next hurdle at 99.98 (high Sep.13) followed by 99.99 (high Sep.12) and the psychological level at 100.00. On the downside, a break below 98.64 (low Sep.16) would expose 98.28 (cloud top) and then 98.27 (low Sep.2).