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1 Nov 2013
USD/JPY remains well bid
FXstreet.com (London) - USD/JPY remains well bid testing 98.80 after the dollar has been scoring top marks across the board.
US ISM Manufacturing PMI (Oct) beat consensus arriving at 56.4 vs 55.00 which took the dollar higher across the board on the last day of this weeks session. Meanwhile, as Derek Halpenny, strategist for The Bank of Tokyo-Mitsubishi UFJ noted, positioning is certainly heavy in the euro at present and USD/JPY has been weighed by euro selling versus the yen and the sell-off in Japanese equities into the close.
USD/JPY Levels
The 20 DMA is 97.87, the 50 DMA is 98.43 and the 200 DMA is 97.53. RSI (14) reads 56.11. Supports are ascending from 97.14, 97.27, 97.40, 97.75, 97.95, 98.06 and 98.42. Spot is 98.80.
US ISM Manufacturing PMI (Oct) beat consensus arriving at 56.4 vs 55.00 which took the dollar higher across the board on the last day of this weeks session. Meanwhile, as Derek Halpenny, strategist for The Bank of Tokyo-Mitsubishi UFJ noted, positioning is certainly heavy in the euro at present and USD/JPY has been weighed by euro selling versus the yen and the sell-off in Japanese equities into the close.
USD/JPY Levels
The 20 DMA is 97.87, the 50 DMA is 98.43 and the 200 DMA is 97.53. RSI (14) reads 56.11. Supports are ascending from 97.14, 97.27, 97.40, 97.75, 97.95, 98.06 and 98.42. Spot is 98.80.