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14 Nov 2013
USD/JPY hits 2-month high above 100.00
FXstreet.com (Córdoba) - The USD/JPY extended gains during the European session and briefly rose above the 100.00 mark Thursday to print its highest in 2 months.
The USD/JPY rose to a high of 100.03 helped by comments from Japan's finance minister Aso who said currency intervention was still a policy option. However, the USD/JPY failed to hold above 100.00 for long and it is currently trading at the 99.95 area, threatening daily highs, recording a 0.7% gain on the day.
USD/JPY technical outlook
From a technical perspective, "the uptrend has been renewed, targeting 100.60 resistance area", said Stoyan Mihaylov, DeltaStock.com. "Initial intraday support is projected at 99.40, followed by the crucial low at 99.09".
The USD/JPY rose to a high of 100.03 helped by comments from Japan's finance minister Aso who said currency intervention was still a policy option. However, the USD/JPY failed to hold above 100.00 for long and it is currently trading at the 99.95 area, threatening daily highs, recording a 0.7% gain on the day.
USD/JPY technical outlook
From a technical perspective, "the uptrend has been renewed, targeting 100.60 resistance area", said Stoyan Mihaylov, DeltaStock.com. "Initial intraday support is projected at 99.40, followed by the crucial low at 99.09".