USD/JPY technically comes strongly bullish

By FXstreet.com | August 25, 2014 AAA

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



comments powered by Disqus
Related Forex Analysis
  1. GBP/USD upside remains corrective – Commerzbank
    Forex News

    GBP/USD upside remains corrective – Commerzbank

  2. USD/CHF shows recovery attempts, as it bottomed at 0.9340
    Forex News

    USD/CHF shows recovery attempts, as it bottomed at 0.9340

  3. USD/JPY Daily Outlook - September 19
    Investing

    USD/JPY Daily Outlook - September 19

  4. SEB:  More EUR/USD buying seen above 1.2943 - eFXnews
    Forex News

    SEB: More EUR/USD buying seen above 1.2943 - eFXnews

  5. USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI
    Forex News

    USD/CAD at Risk for Larger Downside Correction on Sticky Canada CPI

Trading Center