Forex: USD/JPY on the rise in Asia
Forex pairs in this Article »
USD/JPY
FXstreet.com (California) - After failing to break below the 80.10 pivot area, USD/JPY accelerated into the 80.60 zone on Tuesday, closing the session 25 pips above its starting price.
"The rally is still contained below 80.70, which is a critical resistance pivot. A break above this confirms a bottom. The RSI would by then break above 60 and invalidate any bearish momentum we had in the short-term," comments Fan Yang at FXTimes.
"One good look for the bullish scenario is that the RSI is staying above 40. A break above 70 should confirm bullish momentum in the short-term," he adds.
USD/JPY has opened the Asian trade at 80.46 and, at the time of writing, is on the rise, now quoted in the 80.60 zone.
To the upside, resistance levels lie at 80.68 (May 27 low), 80.83 and, above there, 80.92 (May 6 high). To the downside, support levels lie at 80.44 (June 10 high), 80.32 (June 7 high) and 80.26 (June 8 high).
"The rally is still contained below 80.70, which is a critical resistance pivot. A break above this confirms a bottom. The RSI would by then break above 60 and invalidate any bearish momentum we had in the short-term," comments Fan Yang at FXTimes.
"One good look for the bullish scenario is that the RSI is staying above 40. A break above 70 should confirm bullish momentum in the short-term," he adds.
USD/JPY has opened the Asian trade at 80.46 and, at the time of writing, is on the rise, now quoted in the 80.60 zone.
To the upside, resistance levels lie at 80.68 (May 27 low), 80.83 and, above there, 80.92 (May 6 high). To the downside, support levels lie at 80.44 (June 10 high), 80.32 (June 7 high) and 80.26 (June 8 high).
Free Annual Reports
