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13 Mar 2013
Forex: USD/JPY consolidates around 96.00
After a busy morning in NY, the USD/JPY entered a consolidation phase that has extended along the last hours. Strong US retail sales data helped to boost the dollar that reached a high of 96.24 against the yen, but then lost steam and settled in a range.
At time of writing, USD/JPY is trading around 96.05/10, slightly above its opening price. If the cross manages to clear the 96.25 area, next resistances could be found at 96.70 (Mar 12 high) and 97.00 (psychological level). On the downside, supports are seen at 95.45 (intraday low), 95.10 (Mar 7 high) and 94.60 (200-hour SMA).
At time of writing, USD/JPY is trading around 96.05/10, slightly above its opening price. If the cross manages to clear the 96.25 area, next resistances could be found at 96.70 (Mar 12 high) and 97.00 (psychological level). On the downside, supports are seen at 95.45 (intraday low), 95.10 (Mar 7 high) and 94.60 (200-hour SMA).