FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted the conditions surrounding the USD/JPY in the US session trading at its daily highs.
“The USD/JPY closes the day above both, its 100 and 200 DMAs around 102.00/05 first time since mid June”.
“That should be considered a quite nice bullish signal if it weren’t of NFP numbers coming on Friday”.
“Nikkei upward strength, trading at levels not seen since late January this year is another factor supporting current yen weakness, albeit cautious should prevail until Friday”.
“Technically, the hourly chart shows momentum corrected overbought levels and turns back higher, while price extended above its moving averages and RSI turns flat near 70”.
“In the 4 hours chart a mild positive tone is present, with immediate resistance now at 102.35, in route to 102.80 strong static resistance area”.