Forex: USD/JPY at almost 9-month highs above 83.30
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USD/JPY
FXstreet.com (Barcelona) - With the Nikkei printing new 8-month highs above the 9700 point mark, up so far +1.16% for the day at 9692, following the announcement of the Fed's new monetary policy stimulus, and all hopes placed at the candidate Abe victory in the presidential elections of Japan on Sunday, the USDJPY is trading at 83.37, around new highs of almost last 9 months.
Supported by the recent USD rally across the board, the weakness of the Yen increases and exceeds the USDJPY at 83.40 at the time of writing, being the weakest currency of all the majors in the last few days, about -1% less than the following weaker one. In daily readings, RSI 14 shows a level of 74.29, with negative divergence from its previous peak in November at 82.85.
Immediate resistance to the upside for USDJPY appears at recent session highs and almost last nine months 83.43, followed by Feb 16 2011 highs at 83.98, and March 15/year 2012 highs at 84.18. To the downside, the nearest support shows at yesterday's highs 83.29, followed by Friday's highs at 82.83, and November 30 highs at 82.75.
Supported by the recent USD rally across the board, the weakness of the Yen increases and exceeds the USDJPY at 83.40 at the time of writing, being the weakest currency of all the majors in the last few days, about -1% less than the following weaker one. In daily readings, RSI 14 shows a level of 74.29, with negative divergence from its previous peak in November at 82.85.
Immediate resistance to the upside for USDJPY appears at recent session highs and almost last nine months 83.43, followed by Feb 16 2011 highs at 83.98, and March 15/year 2012 highs at 84.18. To the downside, the nearest support shows at yesterday's highs 83.29, followed by Friday's highs at 82.83, and November 30 highs at 82.75.
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