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9 May 2013
Forex: USD/JPY fails to take 99.00 overnight
FXstreet.com (Barcelona) - Having failed in its attempt to hold above 99.00 yesterday, USD/JPY declined overnight, to find support around 98.70.
The pair edged fractionally above the round number during the Asian session but gently declined into the European open, to post a morning low at 98.64, just below daily S1 support at 98.66. Hourly MA´s have a broadly downside bias, while Stochastics are at 33, having crossed on the border of oversold. Hourly RSI sits at 44 and remains within a range that has held for the past couple of days.
The pair edged fractionally above the round number during the Asian session but gently declined into the European open, to post a morning low at 98.64, just below daily S1 support at 98.66. Hourly MA´s have a broadly downside bias, while Stochastics are at 33, having crossed on the border of oversold. Hourly RSI sits at 44 and remains within a range that has held for the past couple of days.