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13 Aug 2013

USD/JPY rally intact above 97.00 despite headwinds remain

FXstreet.com (New York) - The USD/JPY technical pair has retreated off its highs in recent moments (97.32), easing slightly though still maintaining its grip on the 97.00 barrier Tuesday morning during Asian trading.

The BoJ monetary policy meeting minutes came without any surprise, an outcome widely expected by the market, as the meeting saw no change in monetary policy, with the decision to leave the policy unchanged unanimous.

USD/JPY strategic bias

According to Jim Langlands at FX Charts, “In the medium-term the daily indicators still suggest that the dollar is going to remain under pressure and further tests of the downside appear likely, with a break of 95.80 suggesting a decline towards 94.75 (38.2% of 77.10/103.73). If the speculation that the Fed will start tapering in September, the dollar will begin to lose its downside momentum and could begin to head higher – this will take some time though.”

USD/JPY technical levels

At the time of writing, the USD/JPY is now operating at 97.19, still securing a gain of +0.30% above its opening during Asian trading. Technically speaking, the USD/JPY ascension remains capped by resistances at 97.35 (June 26 low) onto 97.70 (June 7 high).
Aug 13, 2013

EUR/NZD off fresh 8-day lows above 1.6600

The EUR/NZD foreign exchange cross rate is last trading at 1.6651, off recent session/weekly highs at 1.6678 printed on the back of recent Kiwi weakness, correcting part of last week squeeze higher across the board.
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Aug 13, 2013

Flash: AUD/USD could see uptick towards 0.9300 – Westpac

Global FX Strategist Sean Callow at Westpac analyzes the short-term outlook of the AUD/USD.
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