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).