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27 Aug 2013
USD/JPY tumbles on ‘hawkish’ John Kerry
FXstreet.com (Athens): The USD/JPY is heading downwards today, as Syrian jitters hurt ‘risk-appetite’ across the board.
JPY soars, as probability that US edges toward a military response to Syria.
The United States signaled it was edging toward a possible military response to last week's suspected chemical attack in Syria. The ‘hawkish’ stance on behalf of US, made investors to seek for ‘safe-haven’ assets, boosting the demand for the Japanese currency. Against the yen, the dollar slipped 0.4 percent to 98.38 yen on Monday, below Friday's high of 99.15 yen, the U.S. currency's highest level since Aug. 5.
Technical outlook on USD/JPY
At the time of writing, the pair is trading at 98.17 area, down 0.35%. The FXstreet.com Trend Index shows the pair to be strongly bearish.Daily pivot point support can be found at 98.00, 97.68, 97.50 and resistance at 98.94, 99.14 and 99.43, respectively
JPY soars, as probability that US edges toward a military response to Syria.
The United States signaled it was edging toward a possible military response to last week's suspected chemical attack in Syria. The ‘hawkish’ stance on behalf of US, made investors to seek for ‘safe-haven’ assets, boosting the demand for the Japanese currency. Against the yen, the dollar slipped 0.4 percent to 98.38 yen on Monday, below Friday's high of 99.15 yen, the U.S. currency's highest level since Aug. 5.
Technical outlook on USD/JPY
At the time of writing, the pair is trading at 98.17 area, down 0.35%. The FXstreet.com Trend Index shows the pair to be strongly bearish.Daily pivot point support can be found at 98.00, 97.68, 97.50 and resistance at 98.94, 99.14 and 99.43, respectively