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8 Jul 2013
USD/JPY extending gains above 101.00
FXstreet.com (Barcelona) - The USD/JPY foreign exchange rate is currently quoted at 101.25 bids, slightly extending gains in early Asia-Pacific trade from Friday's jump post-NFP.
USD/JPY still bullish ahead of BOJ on Thursday
With Japan current account data at 23:50 GMT, “The market really wants to buy this pair given the fundamental outlook but we can still expect occasional sharp sell-offs as the market is already quite long,” said FXWW founder Sean Lee, adding: “Bulls will be hoping that the BOJ statement on Thursday contains more easing measures. I’d expect the market to stay moderately bullish early in the week.”
USD/JPY key technical levels
Immediate resistance to the upside for USD/JPY shows at recent session highs 101.30, followed by May 13 lows at 101.50, and May 30 highs at 101.80. To the downside, closest support lies at July 03 highs 100.87, followed by May 24 lows at 100.64, and June 05 highs at 100.47.
USD/JPY still bullish ahead of BOJ on Thursday
With Japan current account data at 23:50 GMT, “The market really wants to buy this pair given the fundamental outlook but we can still expect occasional sharp sell-offs as the market is already quite long,” said FXWW founder Sean Lee, adding: “Bulls will be hoping that the BOJ statement on Thursday contains more easing measures. I’d expect the market to stay moderately bullish early in the week.”
USD/JPY key technical levels
Immediate resistance to the upside for USD/JPY shows at recent session highs 101.30, followed by May 13 lows at 101.50, and May 30 highs at 101.80. To the downside, closest support lies at July 03 highs 100.87, followed by May 24 lows at 100.64, and June 05 highs at 100.47.