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27 Nov 2013
USD/JPY nears 6-month highs
FXstreet.com (Córdoba) - The USD/JPY staged a steadfast recovery Wednesday, erasing previous day's losses, and is now headed toward its 6-month peak scored Monday.
The USD/JPY pullback was contained by the 101.15 area during the Asian session, allowing the pair to recover the lost ground. The USD/JPY has climbed near 70 pips throughout the day and it is currently trading at the 101.80 zone, up 0.5% on the day, ahead of the US durable goods orders and jobless claims release.
USD/JPY technical outlook
"The minor slide from 101.91 is already over with yesterday's low at 101.14, but I think there is still a chance for one more dip towards 100.50 before advancing higher, towards 103.70 high", said Stoyan Mihaylov, analyst at DeltaStock.com. "My outlook here is negative, for a slide through 101.14, en route to 100.50. Crucial on the upside is 101.91".
The USD/JPY pullback was contained by the 101.15 area during the Asian session, allowing the pair to recover the lost ground. The USD/JPY has climbed near 70 pips throughout the day and it is currently trading at the 101.80 zone, up 0.5% on the day, ahead of the US durable goods orders and jobless claims release.
USD/JPY technical outlook
"The minor slide from 101.91 is already over with yesterday's low at 101.14, but I think there is still a chance for one more dip towards 100.50 before advancing higher, towards 103.70 high", said Stoyan Mihaylov, analyst at DeltaStock.com. "My outlook here is negative, for a slide through 101.14, en route to 100.50. Crucial on the upside is 101.91".