USD/JPY rises a few pips on the day - FXStreet

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points out that due to a rise in stocks on Wednesday USD/JPY climbed a few pips to 101.70.



Key quotes



"Nevertheless the pair shows no upward momentum, and the hourly chart shows price easing towards 101.60 support, while indicators turned lower above their midlines."



"In the 4 hours chart technical readings also turned south in positive territory, not yet signaling a downward move."



"Eeither a price acceleration above 101.95 or below 101.60 is required to confirm a more directional intraday move. "



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    USD/JPY short-term downside risks – FXStreet

  2. Forex News

    USD/JPY extends consolidation below 118.00

  3. Forex News

    USD/JPY unchanged ahead of Fed statement – MP

  4. Forex News

    USD/JPY technicals warn of downside risks – Scotiabank

  5. Forex News

    USD Eyes FOMC Meeting amid Perceived Policy Divergence

Trading Center