FXStreet (Guatemala) - USD/JPY is trading at 104.04, up 0.33% on the day, having posted a daily high at 104.08 and low at 103.66.



With the dollar strong across the board and taking back losses seen earlier, USD/JPY finds territory on the key 104 handle and is seeking out s close here for a positive end to the week and a net neutral position. Meanwhile, Eric Theoret, Currency Strategist at Scotiabank explained that the USD/JPY short-term technical are indeed bullish. “Sll indicators pointing to upside risk, with USD/JPY unable to maintain short-term declines below the 9 day MA. Expect support just above 103.50 with gains likely to accelerate on a break of 104.00."



USD/JPY hourly levels



Spot is presently trading at 104.06, and next resistance can be seen at 104.12 (Daily Classic R2) and 104.31 (Daily Classic R3). Next support to the downside can be found at 103.90 (Hourly 100 SMA), 103.87 (Hourly 20 EMA) and 103.74 (Daily Classic PP).



Related Articles
  1. Forex

    The Pros and Cons of a Fully Convertible Rupee

    Amid the rising economic power of India, the talks of making the Indian currency fully convertible are gaining momentum. We look at the pros and cons.
  2. Forex Fundamentals

    Chinese Yuan an Unlikely Reserve Currency

    As the world's second largest economy, China's challenge to America’s dominance includes a push to make the yuan (RMB), the world’s reserve currency. Whether it can do that now is unclear.
  3. Economics

    How Currency Enforcement Helped Sink The Trans-Pacific Partnership (TTP)

    One particular barrier to trade that has received much attention of late and caused delays in negotiations of the TPP is exchange-rate manipulation, by which a country artificially devalues its ...
  4. Forex

    Top U.S Forex News Sites

    Breaking news moves forex markets. Here are the top U.S. sites for tracking forex news.
  5. Investing

    Financial News Comparison: Bloomberg Vs. Reuters

    Access to financial information has grown with the expansion of digital news. Bloomberg and Thomson Reuters lead the pack, claiming a majority of the business information market.
  6. Economics

    Who Benefits From South Korea's Lowered Interest Rates?

    South Korea is the latest country to cut interest rates in an attempt to stimulate economic growth.
  7. Forex Education

    The Top Uses For P2P Currency Exchange

    Peer-to-peer (P2P) currency exchange networks offer a viable and cheaper alternative for buying and selling currencies.
  8. Forex

    Steps To Open An Offshore Forex Account

    Here is a simple breakdown of how to open an offshore forex account for US-based users, including legal requirements.
  9. Entrepreneurship

    Top Forex Trading Apps

    A brief overview of the top apps that help forex traders with on time information, charts and more.
  10. Investing Basics

    The Risks Of Buying Bitcoin

    Virtual currency is probably here to stay, but what about Bitcoin specifically? Does it have a first-to-market advantage? What are the risks involved?
RELATED TERMS
  1. No results found.

You May Also Like

COMPANIES IN THIS ARTICLE
Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!