FXStreet (Guatemala) - USD/JPY is trading at 104.09, up 0.04% on the day, having posted a daily high at 104.13 and low at 104.01.



USD/JPY is changing hands on the 104 handle while the Nikkei opens slightly down. Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained that the USD/JPY short‐term technical are bullish.“Technicals have shifted rapidly from fairly neutral range bound readings to strong buy signals. The MACD’s ability to reach a new high in tandem with the currency is supportive as is the crossing of the 50‐day MA above the 100‐day (102.11 and 102.08, respectively), and USD/JPY ability to break out of its range all warn that the underlying pressure on USD/JPY have shifted."



USD/JPY support and resistance levels



Support levels: 103.90, 103.70, 103.40 and 102.90



Resistance levels: 104.35, 104.80 and 105.25



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    USD/JPY falls to test 122.00 as stocks decline in US and Europe

  2. Forex News

    US Dollar and Japanese Yen on Target to Hit these Price Levels

  3. Forex News

    USD/JPY off lows after US trade balance

  4. Forex News

    USD/JPY in daily lows near 122.40

  5. Forex News

    USD/JPY dips to 122.50

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!