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

    USD/JPY Technical Analysis: Buyers Lose Hold of 120.00

  2. Forex News

    What’s Next: USD falls after data, focus on NFP

  3. Forex News

    April Forex Seasonality Foresees Weakest Month of Year for USD

  4. Forex News

    USD/JPY on track to climb towards 125 by year-end – Scotiabank

  5. Forex News

    USD/JPY drops to 50-DMA on weak US ISM manufacturing PMI

Trading Center