Forex: USD/JPY – Again approaching 100.00
_iNVEZZ.com Wednesday July 17th_: Yesterday, at the beginning of Asian trading, the USD/JPY tested the 100 level but failed to break it and fell back, ultimately shedding 0.83 percent by the end of the day.
Today’s movement has been pointing up so far, with the price 0.60 percent up at 99.75. And at the start of European trading the pair rose sharply to hit the 89-period simple moving average on the 4H timeframe at 99.82.
Also, the 89-day simple moving average has been offering support and limiting downwards movement since 7 July.
Resistance levels today: 99.55, 99.95 and 100.50.
Support levels: 99.25, 98.90 and 98.25.
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