16 Oct 2013
USD/JPY rallies on US deal optimism
FXstreet.com (Córdoba) - The USD/JPY rallied to fresh highs during the New York session as optimism over an imminent US budget deal lifted stocks and the greenback across the board.
USD/JPY pushed higher, broke above the 100-day SMA and printed its highest since Sep 27 at 98.88 after the Wall Street opening. However, the pair lacked momentum to attack the 99.00 handle and pulled back slightly. At time of writing, USD/JPY is trading at the 98.85 zone, recording a 0.6% gain Wednesday.
USD/JPY technical levels
In terms of technical levels, USD/JPY could face immediate resistances at 99.00 (psychological level) and 99.13/17 (Sep 26 & 24 highs), while supports are seen at 98.70 (Oct 15 high), 98.00 (psychological level) and 97.80 (10-day SMA).
USD/JPY pushed higher, broke above the 100-day SMA and printed its highest since Sep 27 at 98.88 after the Wall Street opening. However, the pair lacked momentum to attack the 99.00 handle and pulled back slightly. At time of writing, USD/JPY is trading at the 98.85 zone, recording a 0.6% gain Wednesday.
USD/JPY technical levels
In terms of technical levels, USD/JPY could face immediate resistances at 99.00 (psychological level) and 99.13/17 (Sep 26 & 24 highs), while supports are seen at 98.70 (Oct 15 high), 98.00 (psychological level) and 97.80 (10-day SMA).