Forex: USD/JPY little changed beneath Key Fibo after JP GDP data
Forex pairs in this Article » USD/JPY
FXstreet.com (San Francisco) - USDJPY remains intraday choppy and holds just below a 78.6% Fibonacci retracement resistance level in the 82.65 price zone, having little reaction to Cabinet office data that showed Japan's economy contracted for a second quarter in Q3; the market currently exchanges around 82.50. "While still inside the 81.80/82.80 range, the upside is favored with 83.30 as immediate bullish target on a break above the top," comments Valeria Bednarik, Chief Analyst at FXstreet.com. Ms. Bednarik identifies support levels at 82.25, 82.00 and the mentioned 81.80. Rallies may find resistance at 82.60, 82.85 and 83.10.