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13 Aug 2013
USD/JPY capped 97.58
FXstreet.com (Barcelona) - USD/JPY broke to the top side in NY, reaching a high of 97.58 overnight and is 0.51% up from 98.86 lows.
However, Alvin Pontoh, Asia-Pacific Macro Strategist, FX & Rates Strategy at TD Securities said “The JPY has maintained its losses against the USD overnight (last 97.30) despite better than expected machinery orders (-2.7% m/m vs -7% consensus), and that combination is helping the Nikkei erase two days’ worth of correction (+1.6%). Risk sentiment is similarly positive in other parts of Asia for the second consecutive day, with equity markets rallying every where except in Shanghai (flat), despite no obvious catalyst”.
USD/JPY has a positive bias
USD/JPY is in positive territory with the 20 dma at 98.46, 50 dma 98.31, 200 dma 93.58. RSI (9) reads 43.01. Supports are ascending from 95.92, 96.40, 96.65, and 96.91. Spot, is currently at the time of writing 97.38 while resistances are coming in at 97.53, 97.88, 98.05 and 98.23.
However, Alvin Pontoh, Asia-Pacific Macro Strategist, FX & Rates Strategy at TD Securities said “The JPY has maintained its losses against the USD overnight (last 97.30) despite better than expected machinery orders (-2.7% m/m vs -7% consensus), and that combination is helping the Nikkei erase two days’ worth of correction (+1.6%). Risk sentiment is similarly positive in other parts of Asia for the second consecutive day, with equity markets rallying every where except in Shanghai (flat), despite no obvious catalyst”.
USD/JPY has a positive bias
USD/JPY is in positive territory with the 20 dma at 98.46, 50 dma 98.31, 200 dma 93.58. RSI (9) reads 43.01. Supports are ascending from 95.92, 96.40, 96.65, and 96.91. Spot, is currently at the time of writing 97.38 while resistances are coming in at 97.53, 97.88, 98.05 and 98.23.