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Jun 3, 2013
USD/JPY bounces off lows
FXstreet.com (Córdoba) - The greenback has managed to pare losses versus the yen following a 150-pip slide triggered by disappointing US manufacturing data.
USD/JPY finally broke below the 100.00 mark at the beginning of the New York session intensifying the selloff that sent it below 99.00 as well. The pair bottomed out at 98.85 before bouncing and it was last down 1.0% at the 99.40 zone.
On the downside, immediate supports are seen at 98.85 (daily low) and 98.60 (55-day SMA). On te upside, resistances could be faced at 99.60 (intraday level) and 100.00 (psychological level).
USD/JPY finally broke below the 100.00 mark at the beginning of the New York session intensifying the selloff that sent it below 99.00 as well. The pair bottomed out at 98.85 before bouncing and it was last down 1.0% at the 99.40 zone.
On the downside, immediate supports are seen at 98.85 (daily low) and 98.60 (55-day SMA). On te upside, resistances could be faced at 99.60 (intraday level) and 100.00 (psychological level).