Our best spreads and conditions
Learn more
Forex News
Back
May 31, 2013
USD/JPY holding in positive territory at 100.81/83
FXstreet.com (Barcelona) - The USD/JPY has been unable to stage a recovery above the 101.00 level Friday, as concerns facing the USD and the fate of the Fed stimulus program hang in the balance.
In these moments, the pair was seen securing a slight gain of +0.04% above it’s opening, while settling at 100.81/83 in these moments. Should the gains mount, Mataf.net analysts identify the next short-term resistances at 101.88, then 102.51, and finally 103.22. Meanwhile, support lies at 100.54, ahead of 99.83, and 99.2.
Overnight in Japan, Housing Starts (YoY) came in at +5.8% in April, exceeding estimates of only +4.3%. In addition, Annualized Housing Starts (April) yielded a figure of 0.939M, vs. projections calling for 0.923M. Finally, Construction Orders (YoY) grew 2.0% in April, compared with -3.4% in the previous month.
According to the Technical Analyst Team at ICN.com, “The USD/JPY moved to the upside, however the only thing that might weaken the bearish move possibility is breaching 102.00 levels intraday today and without it we will keep our negative expectations. Trading again below 101.15 is significant to support the correctional bearish move.”
In these moments, the pair was seen securing a slight gain of +0.04% above it’s opening, while settling at 100.81/83 in these moments. Should the gains mount, Mataf.net analysts identify the next short-term resistances at 101.88, then 102.51, and finally 103.22. Meanwhile, support lies at 100.54, ahead of 99.83, and 99.2.
Overnight in Japan, Housing Starts (YoY) came in at +5.8% in April, exceeding estimates of only +4.3%. In addition, Annualized Housing Starts (April) yielded a figure of 0.939M, vs. projections calling for 0.923M. Finally, Construction Orders (YoY) grew 2.0% in April, compared with -3.4% in the previous month.
According to the Technical Analyst Team at ICN.com, “The USD/JPY moved to the upside, however the only thing that might weaken the bearish move possibility is breaching 102.00 levels intraday today and without it we will keep our negative expectations. Trading again below 101.15 is significant to support the correctional bearish move.”