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9 Apr 2013
Forex: USD/JPY regains 99.00 after quick drop
FXstreet.com (Córdoba) - The USD/JPY saw a quick slide toward fresh lows sub-99.00 during the American session, with no clear catalyst to blame for the sudden move. The pair fell over 30 pips in a matter of seconds and printed a daily low of 98.58 only to quickly bounce back to the 99.20 area.
At time of writing, USD/JPY is trading around 99.17, where it is 0.2% below its opening price, after 3 days of straight gains.
As for technical levels, supports below 98.60 line up at 98.40 and 98.05 (Apr 8 low), while resistances could be found at 99.25(intraday level), 99.67 (Apr 9 high) and 100.00 (psychological level).
At time of writing, USD/JPY is trading around 99.17, where it is 0.2% below its opening price, after 3 days of straight gains.
As for technical levels, supports below 98.60 line up at 98.40 and 98.05 (Apr 8 low), while resistances could be found at 99.25(intraday level), 99.67 (Apr 9 high) and 100.00 (psychological level).