USD/JPY advances some above 102.00 on stocks gains - FXStreet

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Barcelona) - According to FXStreet Chief Analyst Valeria Bednarik USD/JPY advanced some above 102.00 on stocks gains on Tuesday, but remained capped below its 200 SMA in the hourly chart, unable to advance any further since US opening.



Key quotes



"The same time frame shows momentum heading north in positive territory, but CCI diverging lower, anticipating a probable price retracement."



"100 SMA stands around 101.90 offering short term support, while the 4 hours chart an overall positive tone, with indicators in positive territory yet lacking strength."



"As commented earlier, some follow through pass 102.35 is required to confirm a stronger advance, looking for a test of the 102.80 price zone."



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