USD/JPY grinds slowly higher - FXStreet

By FXstreet.com | Updated August 07, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik notes that the USD/JPY is climbing on Wednesday, boosted by the positive US jobless claims numbers and the advance in US stocks.



Key quotes



"Nevertheless, the hourly chart shows 100 and 200 SMAs converging in the 102.50 price zone, offering immediate resistance, while indicators support the upside as per bouncing from their midlines."



"In the 4 hours chart indicators advance some but remain below their midlines, with price action supporting some upward continuation, firmer with a break above mentioned resistance zone."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    JPY to show some strength – ANZ

  2. Forex News

    USD/JPY: Yen erases weak Japan’s data-led losses

  3. Forex News

    USD/JPY Technical Analysis: Trying to Break Below 119.00

  4. Forex News

    USD/JPY: consolidation with an upside bias – AceTrader

  5. Forex News

    What's next: BOE Speeches, US GDP – Key Event

Trading Center