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20 Mar 2013
Forex: USD/JPY trading at resistance near 95.54/55
FXstreet.com (Barcelona) - The USD/JPY has surged higher today, recovering from the bout of risk aversion that saturated the markets yesterday. With investors feeling optimistic ahead of the FOMC rate decision, the cross has moved higher (though is off its session highs of 95.66) towards the 95.55/54 region, up +0.43% during US trading.
The Technical Analyst Team at ICN.com isolates the next resistance at 95.50, onto 95.75, and finally the 96.10 level. Conversely, a movement lower will result in the USD/JPY meeting support at 95.00, then the 94.85 barrier, and finally 94.50.
"The USD/JPY rose slightly, but is still stable below its linear regression indicators and below the 95.50 level. On the contrary, prolonged stability above the 94.10 level keeps the possibility of general positivity. As such, we prefer to remain neutral now waiting for confirmations.” note the ICN.com analysts.
The Technical Analyst Team at ICN.com isolates the next resistance at 95.50, onto 95.75, and finally the 96.10 level. Conversely, a movement lower will result in the USD/JPY meeting support at 95.00, then the 94.85 barrier, and finally 94.50.
"The USD/JPY rose slightly, but is still stable below its linear regression indicators and below the 95.50 level. On the contrary, prolonged stability above the 94.10 level keeps the possibility of general positivity. As such, we prefer to remain neutral now waiting for confirmations.” note the ICN.com analysts.