USD/JPY maintaining good form on 104 handle

By | 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

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