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20 Sep 2013
USD/JPY hits 1-week high
FXstreet.com (Córdoba) - The USD/JPY pushed higher at the beginning of the American session and printed a fresh 1-week high amid speculations of a possible Fed taper in October and Bullard’s comments that tapering was a borderline call this month.
The greenback received a boost across after comments and reached its highest level in a week against the yen at 99.65, before easing a tad. At time of writing, USD/JPY is trading around 99.50, where it records a slight gain on the day.
USD/JPY technical outlook
“The downtrend from 100.60 has been completed at 97.73 low and the bias is already positive, for a rise towards 100.60”, said Stoyan Mihaylov, analyst at DeltaStock.com. “Initial intraday support is projected at 99.00 and crucial on the downside is 98.50”.
The greenback received a boost across after comments and reached its highest level in a week against the yen at 99.65, before easing a tad. At time of writing, USD/JPY is trading around 99.50, where it records a slight gain on the day.
USD/JPY technical outlook
“The downtrend from 100.60 has been completed at 97.73 low and the bias is already positive, for a rise towards 100.60”, said Stoyan Mihaylov, analyst at DeltaStock.com. “Initial intraday support is projected at 99.00 and crucial on the downside is 98.50”.