USD/JPY maintaining good form on 104 handle

By FXstreet.com | Updated September 01, 2014 AAA

FXStreet (Guatemala) - USD/JPY is trading at 104.35, up 0.00% on the day, having posted a daily high at 104.38 and low at 104.30.



USD/JPY has stayed on top form at the start of this week and maintains the 104 handle, printing high on the bid. In the meantime, Valeria Bednarik, chief analyst at FXStreet explained that the short-term picture shows indicators maintaining a neutral stance, with 100 and 200 SMA’s now converging in the 103.90 price zone immediate support. “In the 4 hours chart indicators present a stronger upward tone, with RSI entering overbought territory, not yet suggesting a bearish correction. With no activity in US stocks markets, and European indexes barely changed on the day, local share markets can imprint some motion to the FX board, albeit more thin ranges should not be a surprise until Thursday”.



Support levels: 103.90 103.60 103.35



Resistance levels: 104.50 and 104.80



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Forecast: Dollar Faces NFPs, Euro Anticipating Greece and Risk Languishes

  2. Forex News

    USD/JPY Holds 118.20 Support Ahead of Fed Rhetoric, NFP Report

  3. Forex News

    USD/JPY: Remains at risk of easing - TDS

  4. Forex News

    USD/JPY sold at 119.25; back to 119.00

  5. Forex News

    USD/JPY drops below 119.00

Trading Center