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21 Mar 2013
Forex: USD/JPY testing 95.00 level
FXstreet.com (Barcelona) - The USD/JPY has been in retreat since earlier today during European trading. In these moments, the pair is establishing fresh session lows at the 95.00 level. Having tested this region, the cross is already suffering a loss of -0.98% below its opening.
According to the BTMU Research Team, “The lack of clear catalyst in the week ahead is likely to make it difficult for USD/JPY to rise above 96.71 recorded on March 8th. On the other hand, should Cyprus fail to reach an agreement with external creditors by Monday, the yen may strengthen driven by safe haven flows although any upside is likely to prove limited.”
Mataf.net analysts point to supports at 95.09, ahead of 94.31, and finally 93.79. Conversely on the ascension, the USD/JPY will face calculated resistance at 96.40, onto 96.92, and 97.70.
According to the BTMU Research Team, “The lack of clear catalyst in the week ahead is likely to make it difficult for USD/JPY to rise above 96.71 recorded on March 8th. On the other hand, should Cyprus fail to reach an agreement with external creditors by Monday, the yen may strengthen driven by safe haven flows although any upside is likely to prove limited.”
Mataf.net analysts point to supports at 95.09, ahead of 94.31, and finally 93.79. Conversely on the ascension, the USD/JPY will face calculated resistance at 96.40, onto 96.92, and 97.70.