Forex: USD/JPY looking closely at 100.00

on Jul 2, 2013
Listen Tuesday July 02nd_: The pair didn’t test 100.00 yesterday, topping out at a high of 99.85. Today’s high so far of 99.89 has inched closer, but since that point the price has been dropping and right now is staying at 99.67.

The recent uptrend from 13 June’s 93.77 has been and continues to be supported by the MA89 and MA200, both moving below the price action on the 1H, 4H and daily timeframes, and by the MACD indicator being on the positive side on the same charts.
The last four daily candlesticks have formed smaller bodies, each compared to the previous one, indicating a slowdown in the uptrend near the 100.00 level. The pair will likely need some specific stimulus to break through the psychological mark.

Resistance levels: 99.94/100.00, 100.25 and 100.60.
Support levels: 99.55, 99.15 and 98.65.
**Start Trading in less than 60 seconds >>** 
The most profitable forex pairings on the most profitable binary options platform.



Looking to capitalise on rising & falling USD, GBP, EUR rates? Trade forex in minutes with our top-rated broker, eToro.

Featured Broker

Looking to invest?

Invest globally in stocks, options, futures, currencies, bonds and funds from a single unified platform, with our highest-rated broker.


76% of retail CFD accounts lose money. Your capital is at risk.

Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.

Trade forex
JPY Forex