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30 Sep 2013
USD/JPY bounces from 1-month low
FXstreet.com (Córdoba) - The USD/JPY stretched to fresh daily lows at the beginning of the New York session as the greenback faced renewed pressure on lingering fears of a US government shutdown.
USD/JPY bottomed out at 97.50, last seen Aug 29, but found buyers and managed to trim some of intraday losses. At time of writing, USD/JPY is trading at the 97.75 zone, a few pips above its opening price, but holding a bearish gap from Friday's close. During the New York session, watch for Chicago PMI and Dallas Fed Manufacturing Survey.
USD/JPY technical levels
In terms of technical levels, USD/JPY could find immediate supports at 97.49 (daily low), 97.00 (psychological level) and 96.80 (Aug 28 low). On the other hand, resistances are seen at 98.05 (daily high) and 98.50 (100-hor SMA).
USD/JPY bottomed out at 97.50, last seen Aug 29, but found buyers and managed to trim some of intraday losses. At time of writing, USD/JPY is trading at the 97.75 zone, a few pips above its opening price, but holding a bearish gap from Friday's close. During the New York session, watch for Chicago PMI and Dallas Fed Manufacturing Survey.
USD/JPY technical levels
In terms of technical levels, USD/JPY could find immediate supports at 97.49 (daily low), 97.00 (psychological level) and 96.80 (Aug 28 low). On the other hand, resistances are seen at 98.05 (daily high) and 98.50 (100-hor SMA).