USD/JPY Outlook: September, 19 2013
FinFX | Sep 19, 2013 03:55AM ET
USD/JPY
The pair came under increased pressure on Wednesday as loss of 99.00 handle accelerated bears through 98.44, 16/09 low, as well as tge 98.25/00 supports to find temporary ground at 97.75, near Fibonacci 76.4% of 96.80/100.60 and 61.8% retracement of larger 95.78/100.60 ascend. Corrective action on oversold near-term studies is under way, with lower platform at 99.35 expected to cap and keep bears in play for eventual push towards key near-term support and initial target at 96.80, 28/08 low.
Resistance: 98.77; 99.00; 99.35; 99.51
Support: 98.00; 97.75; 97.50; 97.00
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