USD/JPY: Break above 102.80 still the key - FXStreet

By FXstreet.com | Updated June 08, 2014 AAA

FXStreet (Bali) - According to Valeria Bednarik, Chief Analyst at FXStreet, a clear break above 102.80 in USD/JPY is still required to allow further upside momentum.



Key Quotes



"The USD/JPY initial kneejerk on weak US employment data fell to 102.11, where buyers quickly surged and push price back to pre news levels."



"The hourly chart shows price holding above 100 SMA now at 102.50, while 200 one offers next support at 102.15; indicators lose upward potential but stand well into positive territory, as price pressures Fridays highs."



"In the 4 hours chart the technical outlook is mild positive, as price stands above moving average and indicators head higher around their midlines. However, a clear break above 102.80 is required to confirm a new leg up."



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