Forex: USD/JPY, bullish tendencies in Asia
Forex pairs in this Article »
USD/JPY
FXstreet.com (California) - USD/JPY continued its rally during Wednesday's trade as mixed US economic data favored the Greenback, accelerating 60 pips to peak in the 81.05 zone.
At the time of writing, USD/JPY has since pulled back slightly to close the NY session at 80.94, nearly 50 pips above its starting price. As we open the Asian trade, the pair is showing flashes of strength, quoted now in the 81.00 area.
If USD/JPY continues its advance during the Asian trade, the pair could face resistance at 81.14 (May 26 low), 81.26 (50-day EMA) and 81.45 (May 19 low). To the downside, immediate support lies at 80.92 (May 6 high), 80.68 (June 13 , high) and, below there, 80.61 (June 14 high).
At the time of writing, USD/JPY has since pulled back slightly to close the NY session at 80.94, nearly 50 pips above its starting price. As we open the Asian trade, the pair is showing flashes of strength, quoted now in the 81.00 area.
If USD/JPY continues its advance during the Asian trade, the pair could face resistance at 81.14 (May 26 low), 81.26 (50-day EMA) and 81.45 (May 19 low). To the downside, immediate support lies at 80.92 (May 6 high), 80.68 (June 13 , high) and, below there, 80.61 (June 14 high).
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