3 Feb 2015
USD/JPY upside limited – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, shares the technical setup for USD/JPY, noting that the pair’s upside might remain limited in the short-term.
Key Quotes
“The USD/JPY trades around its daily opening, having however reached a lower low daily basis at 116.87.”
“The positive sentiment that sent dollar lower against high yielders, is also affecting safe-haven yen that anyway remains subdued.”
“The 1 hour chart for the pair shows that indicators aim higher above their midlines, although 100 SMA offers immediate short term resistance around current levels.”
“In the 4 hours chart indicators turned higher but remain below their midlines, whilst the price remains below its moving average, all of which should keep the upside limited in the short term.”
“Support levels: 117.30 117.00 116.60"
“Resistance levels: 118.10 118.40 118.80”
Key Quotes
“The USD/JPY trades around its daily opening, having however reached a lower low daily basis at 116.87.”
“The positive sentiment that sent dollar lower against high yielders, is also affecting safe-haven yen that anyway remains subdued.”
“The 1 hour chart for the pair shows that indicators aim higher above their midlines, although 100 SMA offers immediate short term resistance around current levels.”
“In the 4 hours chart indicators turned higher but remain below their midlines, whilst the price remains below its moving average, all of which should keep the upside limited in the short term.”
“Support levels: 117.30 117.00 116.60"
“Resistance levels: 118.10 118.40 118.80”