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Forex pairs in this Article » USD/JPY
FXStreet (Bali) - USD/JPY has come off session highs at 101.72, with solid selling interest well ahead of 102.00 coupled with a retreat in the Nikkei 225, now only up 0.60% from nearly 1.5% gains at the open, pressing up the Yen.

Technically, according to Valeria Bednarik, Chief Analyst at FXStreet: "The hourly chart shows indicators in positive territory but turning lower, while moving averages stand above current price maintaining a strong bearish slope: 100 SMA provides resistance in the 102.00 area, and sellers may surge on approaches to the level. In the 4 hours chart indicators continue heading higher below their midlines, in correction mode."

Based on Ichimoku readings, Ivan Delgado, Head of Asian Editors at, notes that "the indicator still favours USD/JPY sales, but keeping an eye on the Nikkei 225 is key, for a potential extension of Tueday's rebound..." At present, the USD/JPY is testing bids at the hourly kijun intersection around 101.25/30.
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