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19 Jun 2013
USD/JPY testing support
FXstreet.com (London) - USD/JPY is testing the support on the European open to challenge 95.00 the figure.
USD/JPY data
Japan's trade balance figures for the month of May came in at Y993.9 billion vs estimates of Y1200.0 billion and a previous trade balance of Y362.4 billion. Meanwhile, Japan's adjusted trade balance (May) stood at Y821.045 billion vs Y892.8 billion expected. May imports y/y came in at +10.0% vs +10.8% expected, with exports better than expected, up at +10.1% in May vs +6.5%% expected. Today, the market awaits FOMC for further direction on the pair.
USD/JPY bearish forces
Meanwhile, USD/JPY has been trading below 95.50, albeit with linear regression indicators offering a slight upside potential. However, overall, there is a broad based bearish channel and the pair continue to trend lower within it. The pair eye's key support through 95.00 towards 93.55 while key resistance is seen at 96.35. A break above 103.50 would indicate a major correction targeting 105.00.
USD/JPY data
Japan's trade balance figures for the month of May came in at Y993.9 billion vs estimates of Y1200.0 billion and a previous trade balance of Y362.4 billion. Meanwhile, Japan's adjusted trade balance (May) stood at Y821.045 billion vs Y892.8 billion expected. May imports y/y came in at +10.0% vs +10.8% expected, with exports better than expected, up at +10.1% in May vs +6.5%% expected. Today, the market awaits FOMC for further direction on the pair.
USD/JPY bearish forces
Meanwhile, USD/JPY has been trading below 95.50, albeit with linear regression indicators offering a slight upside potential. However, overall, there is a broad based bearish channel and the pair continue to trend lower within it. The pair eye's key support through 95.00 towards 93.55 while key resistance is seen at 96.35. A break above 103.50 would indicate a major correction targeting 105.00.