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27 Aug 2013
USD/JPY falls to fresh 1-week lows
FXstreet.com (Córdoba) - The selloff of the USD/JPY intensified at the beginning of the American session amid mounting concerns over the Syria turmoil.
The USD/JPY broke below the 97.65 support zone and triggered stops, falling to a fresh 1-week low of 97.33 in recent dealings. At time of writing, USD/JPY is trading at the 97.45/50 area, where it records a 1.1% loss on the day.
The Yen is among the best performers on Tuesday, benefited by its safe-haven status, amid mounting concerns about possible US military intervention in Syria.
USD/JPY technical levels
IN terms of technical levels, if USD/JPY breaks below the 97.30 zone, next supports are seen at 97.10 (Aug 21 low) and 97.00 (psychological level). On the upside, resistances are now seen at 97.65 (former support) and 98.00 (psychological level).
The USD/JPY broke below the 97.65 support zone and triggered stops, falling to a fresh 1-week low of 97.33 in recent dealings. At time of writing, USD/JPY is trading at the 97.45/50 area, where it records a 1.1% loss on the day.
The Yen is among the best performers on Tuesday, benefited by its safe-haven status, amid mounting concerns about possible US military intervention in Syria.
USD/JPY technical levels
IN terms of technical levels, if USD/JPY breaks below the 97.30 zone, next supports are seen at 97.10 (Aug 21 low) and 97.00 (psychological level). On the upside, resistances are now seen at 97.65 (former support) and 98.00 (psychological level).