USD/JPY Outlook: September, 4 2013
FinFX | Sep 04, 2013 04:25AM ET
The pair remains steady and continues to trend higher en-route towards the psychological 100 barrier, with 99.85 seen so far. A positive near-term technicals support the action, with sustained break above 100 barrier signalling completion of weekly bullish pennant, and open next targets at 100.85 and 101.52. Near-term consolidation lows at 99.22/15, along with 99.00, offer initial support. Only a reversal under 98.50, 29/08 high, would delay and signal a stronger correction.
Resistance: 99.85; 100.00; 100.44; 100.85
Support: 99.14; 99.00; 98.50; 98.27
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