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23 Sep 2013
USD/JPY hits fresh lows after US PMI
FXstreet.com (Córdoba) - The USD/JPY extended losses and hit fresh daily lows as the greenback softened at the beginning of the American session following weaker-than-expected US manufacturing PMI.
USD/JPY remains capped by 99.00
After Markit reported a 52.8 figure for US manufacturing PMI against 54.0 expected, USD/JPY dropped a few pips and bottomed out at 98.72 before recovering slightly. At time of writing, the pair is trading at the 98.90 area, still down 0.3% on the day.
USD/JPY technical levels
As for technical levels, USD/JPY could find immediate supports at 98.72 (daily low) and 98.00 (psychological level), while resistances are seen at 99.05 (100-day SMA) and 99.35 (daily high), although with little ahead in the calendar, the pair could enjoy a phase of sideways consolidation.
USD/JPY remains capped by 99.00
After Markit reported a 52.8 figure for US manufacturing PMI against 54.0 expected, USD/JPY dropped a few pips and bottomed out at 98.72 before recovering slightly. At time of writing, the pair is trading at the 98.90 area, still down 0.3% on the day.
USD/JPY technical levels
As for technical levels, USD/JPY could find immediate supports at 98.72 (daily low) and 98.00 (psychological level), while resistances are seen at 99.05 (100-day SMA) and 99.35 (daily high), although with little ahead in the calendar, the pair could enjoy a phase of sideways consolidation.