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USDJPY Analysis 20th June 2013 – Dollar Yen Technical Update – Ichimoku

USDJPY Analysis 20th June 2013 – Dollar Yen Technical Update – Ichimoku

USDJPY Analysis 20th June 2013 – Dollar Yen Technical Update – Ichimoku

  • The USD/JPY pair has moved to a daily high of 97.01, testing the key 97.00 area price pivot zone and the Tenkan Sen following the FOMC statement on Wednesday.
  • The greenback has seen broad based strength across the board with the USDX testing the 81.40 – 50 previous support resistance pivot area.
  • This was also a continuation of the breakout above a “double inside day” price action setup for dollar/yen.
  • Price is now consolidating the recent gains between the 95.00 handle round number and the aforementioned 97.00 technical area.
  • Any continuation higher over the coming sessions would have the 50% retrace and Kijun Sen as a technical focus.
  • Key potential resistance is seen around the 100.00 psychological round number area – aligned with the 61.8% Fibonacci retrace.  
  • However, we note that the last attempt to move above the cloud on the 10/6/13 met with major resistance.
  • See the following USDJPY Ichimoku analysis chart for further detail (click to expand).

usdjpy USDJPY Analysis 20th June 2013 – Dollar Yen Technical Update – Ichimoku

usdjpy analysis fomc USDJPY Analysis 20th June 2013 – Dollar Yen Technical Update – Ichimoku

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