Forex: USD/JPY stays next 80.00

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FXstreet.com (San Francisco) – The USD/JPY unsuccessful again to mangle above a psychological 80.00 turn on Tuesday, handling between 79.54 and 79.84 before finale a American event during 79.73, gaining 0.16% on a day.

According to Valeria Bednarik, Chief Analyst during FXstreet.com, “The hourly draft shows a clever miss of definitions with indicators prosaic around their midlines, while in bigger time frames, new innate bullish trend stays intact: in a 4 hours chart, indicators conduct north, RSI enclosed notwithstanding in overbought territory, while 20 SMA leads a approach higher, behaving as energetic support now around 79.45.”

In early Asia, USD/JPY is probably unchanged, with support levels remarkable during 79.45, 79.20 and 78.80, while insurgency levels distortion during 80.00, 80.25 and 80.60.

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Forex: USD/JPY capped at 80.36

FXstreet.com (Barcelona) - The Japanese Yen keeps weakening as days go by, allowing the USD/JPY to breach above 80.00. The cross has reached as high as 80.36 right before the American opening, and after news of the downgrade from CCC to C of the Greek sovereign debt by Fitch.

Currently, the pair is trading around 80.23. UBS analysts report that a “senior official said there is nothing strange about USDJPY at 80, and the JPY weakening is due to the BoJ's timely easing and a better risk environment”.

“While we could see some corrective activity to unwind the recent advance the underlying tone remains positive following settlement above the 200 day MA, and we look for the 78.00/79.00 zone to act as support for further gains towards 82.23 (May 2011 high) ahead of 83.30”, writes MIG Bank analyst Ron William.

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