OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/JPY ducks away from key 109.50 resistance

FXStreet (Guatemala) - USD/JPY is trading at 109.36, up 0.08% on the day, having posted a daily high at 109.52 and low at 109.27.

USD/JPY has ducked away from the impressive attempts at the midway point of the 109 handle of last week and is offered to the aforementioned lows which may act as static support on a quiet calendar given the psychological position of this level and last week's mid week congestion. Valeria Bednarik, chief analyst at FXStreet explained, that technically, the short term picture shows price developing above 100 and 200 SMAs, with the latest approaching the first from below, usually a sign of exhaustion of the dominant trend. “As for the 4 hours chart indicators are turning lower above their midlines, also suggesting some short term exhaustion, albeit not supporting yet a bearish move”.

Support levels: 109.20, 108.9,0 108.50 and 108.20

Resistance levels: 109.45, 109.80 and 110.20

AUD/USD: Bears launch new attack, 0.8727 lowest so far

AUD/USD made fresh new lows in Asia, hitting its cheapest level since Jan 31 this year at 0.8727, following the break of last Friday's NY low at 0.8747 as sentiments towards the Aussie worsens.
Read more Previous

USD longs near all time highs - Nomura

For the week ended September 23, non-commercial accounts bought $5.1bn worth of USD, bringing positioning to $40.1bn, near all time highs, notes Nomura.
Read more Next
Start livechat