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19 Sep 2013
USD/JPY jumps above 99.00 after data
FXstreet.com (Córdoba) - The USD received a boost and managed to regain the 99.00 mark against the Yen following the latest string of better-than-expected US data.
USD/JPY underpinned by US data
The US reported initial jobless claims rose to 309K last week, beating expectations, while the current account deficit contracted to 98.89B in the Q2. USD/JPY pierced above the 99.00 mark and the 100-day SMA, rising toward a peak of 99.25 so far.
USD/JPY back to pre-Fed levels
At time of writing, USD/JPY is trading around 99.20 where it is 1.3% above its opening price as investors quickly reversed USD/JPY Fed-induced losses. As for technical levels, immediate resistances are seen at 99.25 (daily high) and 99.40 (200-hour SMA), while supports are now seen at 99.05/00 (100-day SMA/psychological level) and 98.70 (10-hour SMA).
USD/JPY underpinned by US data
The US reported initial jobless claims rose to 309K last week, beating expectations, while the current account deficit contracted to 98.89B in the Q2. USD/JPY pierced above the 99.00 mark and the 100-day SMA, rising toward a peak of 99.25 so far.
USD/JPY back to pre-Fed levels
At time of writing, USD/JPY is trading around 99.20 where it is 1.3% above its opening price as investors quickly reversed USD/JPY Fed-induced losses. As for technical levels, immediate resistances are seen at 99.25 (daily high) and 99.40 (200-hour SMA), while supports are now seen at 99.05/00 (100-day SMA/psychological level) and 98.70 (10-hour SMA).