Heading up in the lift towards the penthouse suites at 98.00, currently at 97.88. It’s been a usual theme of late to see the dollar running up in Europe and early US sessions, only to be hit in the US session all the way back down. Maybe it’s expecting a decent retail sales release.
USD/JPY h4 chart 29 10 2013
There’s minor resistance all the way up to the big figure and beyond and it’s the 98.26/34 area that we see the first of the stronger tech resistance.
The dollar is being supported by the DXY who continues to put in some distance from the 79.00 low. Now attempting to push through 79.50.
DXY chart 29 10 2013
