USDJPY: Fading near the resistance at 99.01

Monday, November 4, 20130 comments


USD/JPY's rise seems to be fading near the resistance at 99.01. Hourly supports are given by the rising trendline (around 98.03) and 97.79. Another resistance can be found at 99.67.

In the longer term, the technical configuration since the 22 May peak at 103.74 looks like a pause within an underlying uptrend. Therefore, we expect an eventual continuation of the longer term bullish trend. A significant support stands at 95.81. A key resistance stands at 101.53.
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