USD/JPY edging higher on strong stocks - FXStreet

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the USD/JPY edged higher on Tuesday in the US session, reaching 106.00 daily highs favored also by strong US stocks.



Key Quotes:



“The hourly chart shows price hovering around a still bearish 100 SMA while momentum heads higher above its midline, and CCI diverges to the downside, leaving a neutral short term picture”.



“In the 4 hours chart indicators head higher above their midlines, yet unless a clear price acceleration above former support around 101.60 the upside will likely remain limited, with risk to the downside increasing on a break below 101.20 immediate support”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Weekly Trading Forecast: FOMC, GDP, Greece and Much More Ahead

  2. Forex News

    Japanese Yen to Look Past BOJ Decision, Focus on Greece and FOMC

  3. Forex News

    Trading Video: Sentiment, Dollar and Euro All At-Risk Next Week

  4. Forex News

    Strategy Video: Can We Still Trade Amid Central Banks, HFT, Exuberance

  5. Forex News

    USD/JPY: Bears in charge ahead of BoJ next week

Trading Center