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26 Feb 2013
Forex: USD/JPY bounces back to 92.00
Wild moves and volatility prevail in USD/JPY that having bounced from a 4-week low of 90.87 scored on Monday, staged a comeback toward 92.74 only to fall back to 91.12 during the NY session.
Regardless intraday choppiness, USD/JPY continues to return to the comfort 91.80/92.00 zone, and it is presently trading around 91.90/95, where it is only a few pips above its opening price.
As for technical levels, immediate supports for the cross are seen at 91.12 (intraday low), 90.87 (Feb 25 low) and 90.32 (Jan 29 low). On the upside, if the USD/JPY manages to climb above 92.75, next resistances could be found at 93.00 (psychological level) and then at 93.12 (100-hour SMA).
Regardless intraday choppiness, USD/JPY continues to return to the comfort 91.80/92.00 zone, and it is presently trading around 91.90/95, where it is only a few pips above its opening price.
As for technical levels, immediate supports for the cross are seen at 91.12 (intraday low), 90.87 (Feb 25 low) and 90.32 (Jan 29 low). On the upside, if the USD/JPY manages to climb above 92.75, next resistances could be found at 93.00 (psychological level) and then at 93.12 (100-hour SMA).