USD/JPY flirts with support; glued to 98.70 area

FXstreet.com (Chicago) - USD/JPY was limited at 98.90 after rebounding from minimum daily at 98.65. The pair presented the worst performance among major currency crosses while Wall Street closed with losses in one day loose for us.

Bearish Monday

Early in the us, the Markit Manufacturing PMI for September was 52.8 against results in 53.1 and 54 expectations. The Chicago Fed activity index was 0.14 against results last in - 0.43. In Japan, markets were closed for the holiday of autumn while Wall Street closed with losses with the Dow down 0.32%, the Nasdaq down 0.25% and the S & P500 registering losses of 0.47%.

USD/JPY technical standards

Technically, the couple stays glued to the media zone below 99. After finding firm levels after the collapse from 100.50 two weeks ago, the pair extends the line downward trend that started last Friday. Offered at 98.72, torque ranges between the brackets aligned at 98.73 (September 16th min), 98.45 (September 13th min) followed by 98.16 (September 19th min) and resistors at 99.00 (September 17th min), 99.32 (September 18th max) followed by 99.66 (September 20th max). FXstreet.com trend index reports the couple as highly to fall in time of one hour below the EMA20.