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25 Jun 2013
USD/JPY continues sideways trading range
FXstreet.com (New York) - The USD/JPY foreign exchange rate has maintained a static range during US trading Tuesday, unable to break higher into the 98.00 region.
USD/JPY neutrality remains intraday
According to the Technical Analyst Team at ICN.com, “The USD/JPY is trading below 97.60 and failed to consolidate above it. RSI is also moving to the downside in an attempt to break level 50 to the downside, while Linear Regression Indicator 34 became negative. All these circumstances force us to think that the upside move became weaker. Therefore, we will be neutral in the U.S. session and cancel our previous expectations.”
Presently, the USD/JPY has continued to gravitate towards a linear path, now operating at just -0.01% off its opening Tuesday - in these moments the pair is residing at 97.76. The Mataf.net analyst team calculates short-term supports at 97.71, then 96.42, and 95.63.
USD/JPY neutrality remains intraday
According to the Technical Analyst Team at ICN.com, “The USD/JPY is trading below 97.60 and failed to consolidate above it. RSI is also moving to the downside in an attempt to break level 50 to the downside, while Linear Regression Indicator 34 became negative. All these circumstances force us to think that the upside move became weaker. Therefore, we will be neutral in the U.S. session and cancel our previous expectations.”
Presently, the USD/JPY has continued to gravitate towards a linear path, now operating at just -0.01% off its opening Tuesday - in these moments the pair is residing at 97.76. The Mataf.net analyst team calculates short-term supports at 97.71, then 96.42, and 95.63.