Filed Under:
Forex pairs in this Article » USD/JPY
FXstreet.com (New York) - The USD/JPY foreign exchange rate found itself trading below the 100.00 barrier Monday, unable to mount a recovery that would summit this key region.

In the United States, the Chicago Fed National Activity Index (June) was reported at -0.13, missing expectations of 0.0.

USD/JPY strategic bias

According to the Technical Analyst Team at ICN.com, “The USD/JPY failed to consolidate below 61.8% correction at 99.90, as breaking this level is required to push the pair to the downside. However, the pair is below key resistance level shown on graph so we will hold on to our negative expectations unless the pair breaches this level and stabilizes above 101.15 throughout the week.”

In light of the recent weakness below 100.00, the USD/JPY is presently trading in the area of 99.84 in these moments, suffering a decline of -0.58% off its opening. Supportive means will trigger at 99.42, ahead of 98.92, and finally 98.24, notes the Mataf.net analyst team.
comments powered by Disqus