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13 Aug 2013
USD/JPY above the 98.00 handle
FXstreet.com (Barcelona) - USD/JPY has broken the 98.00 handle and eyes 98.23 resistance, so far marking a high of 98.07.
USD/JPY is performing at the highest this month. “Summer markets seem to be in full swing, with small pockets of market moves but nothing all that drastic. Overnight we saw JPY continue to under perform, and with better than expected Japanese machine orders (-2.7% actual vs –7.0% consensus) helped the Nikkei to lead Asia-Pac equities higher”, said Jacqui Douglas, Senior Global Strategist, Rates and FX Research at TD Securities. The BoJ minutes revealed a slightly more optimistic BoJ suggesting the economy would begin to recover but moderately.
USD/JPY RSI (14) above 70
USD/JPY is in positive territory with the 20 dma at 98.46, 50 dma 98.31, 200 dma 93.58. However, RSI (14) reads 79.48 and this may prove a slow grind higher rather than a continuation of an accelerated uptrend.
USD/JPY is performing at the highest this month. “Summer markets seem to be in full swing, with small pockets of market moves but nothing all that drastic. Overnight we saw JPY continue to under perform, and with better than expected Japanese machine orders (-2.7% actual vs –7.0% consensus) helped the Nikkei to lead Asia-Pac equities higher”, said Jacqui Douglas, Senior Global Strategist, Rates and FX Research at TD Securities. The BoJ minutes revealed a slightly more optimistic BoJ suggesting the economy would begin to recover but moderately.
USD/JPY RSI (14) above 70
USD/JPY is in positive territory with the 20 dma at 98.46, 50 dma 98.31, 200 dma 93.58. However, RSI (14) reads 79.48 and this may prove a slow grind higher rather than a continuation of an accelerated uptrend.