FXstreet.com (Barcelona) - In the absence of any noteworthy events or data, USD/JPY has traded sideways throughout the day, trading between the range of 78.19 and 78.49. Presently speaking, the pair has stubbornly retreated to opening levels at 78.34, recording no change on the day.
According to the technical analysts at ICN.com, “The narrow trading is still seen on the provided daily chart above 76.4% the Fibonacci retracement of the wave from 76.00 to 84.15. However, the 77.95 level shouldn’t be breached; otherwise, the bearishness will dominate the movements.”
In terms of the technical levels, ICN.com analysts point to supports at 78.20, 77.95, and 77.60. On the ascension, resistances are located at 78.50, 78.80, and finally 79.00.
According to the technical analysts at ICN.com, “The narrow trading is still seen on the provided daily chart above 76.4% the Fibonacci retracement of the wave from 76.00 to 84.15. However, the 77.95 level shouldn’t be breached; otherwise, the bearishness will dominate the movements.”
In terms of the technical levels, ICN.com analysts point to supports at 78.20, 77.95, and 77.60. On the ascension, resistances are located at 78.50, 78.80, and finally 79.00.
