FXstreet.com (Córdoba) - The dollar strengthened broadly and rose versus most competitors, including the Japanese yen, after data showed the Chicago area activity contracted for first time in over 3 years in September while a gauge of US consumer sentiment missed expectations.
USD/JPY jumped to a high of 77.80 after the data and it is currently trading at the 77.75 zone, printing a 0.2% gain on Friday.
From a technical view, Valeria Bednarik, chief analyst at FXstreet.com recently commented that USD/JPY needs to break above recent highs around 77.90 in order to call for an interim bottom at 77.42. Bednarik locates immediate supports at 77.30, 77.12 and 76.85, while she sees resistances at 77.70, 77.90 and 78.10.
USD/JPY jumped to a high of 77.80 after the data and it is currently trading at the 77.75 zone, printing a 0.2% gain on Friday.
From a technical view, Valeria Bednarik, chief analyst at FXstreet.com recently commented that USD/JPY needs to break above recent highs around 77.90 in order to call for an interim bottom at 77.42. Bednarik locates immediate supports at 77.30, 77.12 and 76.85, while she sees resistances at 77.70, 77.90 and 78.10.
