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18 Mar 2013
Forex: USD/JPY trading sideways at 95.08/10
FXstreet.com (Barcelona) - The USD/JPY has been one of todays standout performers, rallying nicely earlier off a session low of 94.31, which proved to be a bottoming out point for the cross. American trading has been much more sideways in nature, as the pair has refused to budge from a narrow trading range that is holding within sights of the 95.00 mark. In these moments the pair is trading at 95.08/10, recording an advance of +0.53% Monday.
“The USD/JPY is trading sideways, held by its 20-day EMA and 4h 55-day EMA – so far these appear to have limited gains, as indicators hold in the negative territory in both timeframes that keeps the in focus.” Warns Slobodan Drvenica, an analyst at Windsor Brokers Ltd.
Drvenica isolates resistances at 95.18, onto 95.50, and finally 95.68. Should the recent run up abate and the cross pare its losses, supports will trigger at 94.80, followed by 94.59, and eventually 94.30.
“The USD/JPY is trading sideways, held by its 20-day EMA and 4h 55-day EMA – so far these appear to have limited gains, as indicators hold in the negative territory in both timeframes that keeps the in focus.” Warns Slobodan Drvenica, an analyst at Windsor Brokers Ltd.
Drvenica isolates resistances at 95.18, onto 95.50, and finally 95.68. Should the recent run up abate and the cross pare its losses, supports will trigger at 94.80, followed by 94.59, and eventually 94.30.