Back
15 Aug 2013
USD/JPY, in free fall to print new intraday lows
FXstreet.com (Chicago) - USD/JPY has plunged below 98.00 support within seconds to drop to 97.35 intraday lows.
Price action indicates an impulsive market movement to new depths as the pair fell from 98.00 zone to 97.30 zone within seconds to violate momentarily the immediate support at 97.51. Amid concurrent speculations on Fed’s tapering and after the release of weaker-than-expected data, the pair trades at 97.63 between supports at 97.51 (June 26th lows), 97.31 (intraday lows), 91.16 (June 22nd lows) and resistances at 97.81 (July 25th lows), 98.00 (June 22nd highs) followed by 98.24 (August 12th highs).
According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis with a MACD pointing down and trading below EMA20.
Price action indicates an impulsive market movement to new depths as the pair fell from 98.00 zone to 97.30 zone within seconds to violate momentarily the immediate support at 97.51. Amid concurrent speculations on Fed’s tapering and after the release of weaker-than-expected data, the pair trades at 97.63 between supports at 97.51 (June 26th lows), 97.31 (intraday lows), 91.16 (June 22nd lows) and resistances at 97.81 (July 25th lows), 98.00 (June 22nd highs) followed by 98.24 (August 12th highs).
According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis with a MACD pointing down and trading below EMA20.