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10 Sep 2013
USD/JPY testing intraday highs at 100.00
FXstreet.com (Lisbon) - The USD/JPY foreign exchange rate surged to fresh highs Tuesday, piercing the 100.00 barrier during European trading and showing new signs of strength that may finally signal a prolonged move higher.
USD/JPY strategic bias
According to Karen Jones, an analyst at Commerzbank, “Over the past few days USD/JPY has been capped by the 100.00/24 region and is likely to remain below this zone again today. Last week it broke higher from a 5-month triangle, though, and we believe that it has resumed its up move. Our initial upside target is the 101.54/60 July high and the Fibonacci retracement.”
USD/JPY technical levels
Presently, the USD/JPY has is still trading positively at +0.39% above its opening, settling at 99.98. Briefing the technicals, the USD/JPY will encounter means of calculated resistance at 100.02, a break of which will open up 100.27, notes the Mataf.net analyst team.
USD/JPY strategic bias
According to Karen Jones, an analyst at Commerzbank, “Over the past few days USD/JPY has been capped by the 100.00/24 region and is likely to remain below this zone again today. Last week it broke higher from a 5-month triangle, though, and we believe that it has resumed its up move. Our initial upside target is the 101.54/60 July high and the Fibonacci retracement.”
USD/JPY technical levels
Presently, the USD/JPY has is still trading positively at +0.39% above its opening, settling at 99.98. Briefing the technicals, the USD/JPY will encounter means of calculated resistance at 100.02, a break of which will open up 100.27, notes the Mataf.net analyst team.