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9 Aug 2013
USD/JPY bounces off 96.10 support to remain on still mode
FXstreet.com (Chicago) - USD/JPY retraced from immediate resistance at 96.46 to hit 96.10 support and jump back to a more stable 96.25 zone.
Price action indicated the pair stalled throughout Friday afternoon at the closing of the American stock markets with the Dow down 0.47%, the S&P down 0.36% and the Nasdaq down 0.25%. Asia had closed with the Nikkei up 0.07%.
Trading at 96.18, the pair oscillated between supports at 96.10 (August 7th lows), 95.78 (June 29th highs) followed by 95.58 (June 13th highs) and resistances at 96.46 (June 9th lows), 96.66 (June 6th highs) ahead of 96.88 (June 21st lows).
Price action indicated the pair stalled throughout Friday afternoon at the closing of the American stock markets with the Dow down 0.47%, the S&P down 0.36% and the Nasdaq down 0.25%. Asia had closed with the Nikkei up 0.07%.
Trading at 96.18, the pair oscillated between supports at 96.10 (August 7th lows), 95.78 (June 29th highs) followed by 95.58 (June 13th highs) and resistances at 96.46 (June 9th lows), 96.66 (June 6th highs) ahead of 96.88 (June 21st lows).