3 Sep 2013
USD/JPY surges to fresh highs, eyes break of 100.00
FXstreet.com (Lisbon) - The bullish sentiment surrounding the USD/JPY is mounting, as evidenced by the pairs mounting ascension towards the key 100.00 region Tuesday during European trading.
USD/JPY strategic bias
According to Karen Jones, an analyst at Commerzbank, “The USD/JPY has shot higher to erode the 4 month resistance line, which was located at 99.19. We have seen a close above here and we would preferably like to also see a close above the 99.29 cloud resistance to confirm further upside scope presently to the 101.54/60 July high and the Fibonacci retracement.”
USD/JPY technical levels
Presently, the USD/JPY has rallied to fresh highs in these moments, operating at 99.70, en route to a gain of +0.30% thus far. Briefing the technicals, the USD/JPY will encounter means of calculated resistance at 99.95, a break of which will open up 100.17, onto 100.45, notes the Danske Research team.
USD/JPY strategic bias
According to Karen Jones, an analyst at Commerzbank, “The USD/JPY has shot higher to erode the 4 month resistance line, which was located at 99.19. We have seen a close above here and we would preferably like to also see a close above the 99.29 cloud resistance to confirm further upside scope presently to the 101.54/60 July high and the Fibonacci retracement.”
USD/JPY technical levels
Presently, the USD/JPY has rallied to fresh highs in these moments, operating at 99.70, en route to a gain of +0.30% thus far. Briefing the technicals, the USD/JPY will encounter means of calculated resistance at 99.95, a break of which will open up 100.17, onto 100.45, notes the Danske Research team.