Forex: USD/JPY capped at 86 round with Tokyo closed
FXstreet.com (Barcelona) - A recent downside move in EURUSD to near session lows with US "fiscal cliff" talks now postponed till Monday morning local time, USDJPY is last at 85.99, around session highs, pushing to the upside helped on broad USD strength. The pair is barely above previous weekly close Friday, just 10 pips below it.
"Failing to close above 86.50 on the session, the USDJPY technical setup is portending towards a corrective wave lower to 85.00," says FXstreet.com Independent Analyst Richard Lee, adding: "Further upside remains contingent on a break above the aforementioned resistance."
Immediate resistance to the upside for USDJPY shows at recent session highs/Friday's lows 86.02, followed by Thursday's London session highs at 86.15, and Friday's highs 86.63. To the downside, closest support lies at recent session lows 85.65, followed by Dec 27 lows at 85.47, and Dec 24 highs at 84.88.
"Failing to close above 86.50 on the session, the USDJPY technical setup is portending towards a corrective wave lower to 85.00," says FXstreet.com Independent Analyst Richard Lee, adding: "Further upside remains contingent on a break above the aforementioned resistance."
Immediate resistance to the upside for USDJPY shows at recent session highs/Friday's lows 86.02, followed by Thursday's London session highs at 86.15, and Friday's highs 86.63. To the downside, closest support lies at recent session lows 85.65, followed by Dec 27 lows at 85.47, and Dec 24 highs at 84.88.
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