Back
11 Sep 2013
USD/JPY stabilizes at 100.40 region despite overbought signals
FXstreet.com (Lisbon) - The USD/JPY foreign exchange rate refused to retrace back below 100.00, showing stability at its current levels despite weighing technicals Wednesday.
USD/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/JPY clearly managed to stabilize above 78.6% correction at 100.30. Trading above the referred to level might extend bullishness especially that the pair is stable above Linear Regression Indicators. Overbought signals showing on momentum indicators will be ignored unless the pair traded again below 99.70.”
USD/JPY technical levels
Presently, the USD/JPY has is still trading positively at +0.02% above its opening, despite operating off its earlier high at 100.62 – at this juncture the pair is settling at 100.42. Briefing the technicals, the USD/JPY will encounter means of calculated resistance at 100.64, a break of which will open up 101.04 and 101.62, notes the Mataf.net analyst team.
USD/JPY strategic bias
According to the Technical Analyst Team at ICN.com, “The USD/JPY clearly managed to stabilize above 78.6% correction at 100.30. Trading above the referred to level might extend bullishness especially that the pair is stable above Linear Regression Indicators. Overbought signals showing on momentum indicators will be ignored unless the pair traded again below 99.70.”
USD/JPY technical levels
Presently, the USD/JPY has is still trading positively at +0.02% above its opening, despite operating off its earlier high at 100.62 – at this juncture the pair is settling at 100.42. Briefing the technicals, the USD/JPY will encounter means of calculated resistance at 100.64, a break of which will open up 101.04 and 101.62, notes the Mataf.net analyst team.