3 Jan 2014
USD/JPY jumps to 104.70 following Bernanke speech
FXstreet.com (San Francisco) - The US Dollar is joining a recent bullish momentum following the Fed's Ben Bernanke speech on QE and economic review and further measures in the central bank. The USD/JPY advanced 30 pips in the latest few minutes to trade at 104.72.
Ben Bernanke says the recovery is still incomplete, the unemployment still elevated, and the taper does not mean the reduction of the Fed commitment to low rates.
Currently, the USD/JPY is pricing at 104.70, still 0.07% negative on the day. The short term perspective is slightly bearish according to the FXstreet.com trend index in the 15-minute chart.
USD/JPY levels
Above the 200 hours MA at 104.65, the USD/JPY would face resistances at 104.85, 105.15 and 105.40. On the downside, supports are at 104.30, 104.10 and 103.80.
Ben Bernanke says the recovery is still incomplete, the unemployment still elevated, and the taper does not mean the reduction of the Fed commitment to low rates.
Currently, the USD/JPY is pricing at 104.70, still 0.07% negative on the day. The short term perspective is slightly bearish according to the FXstreet.com trend index in the 15-minute chart.
USD/JPY levels
Above the 200 hours MA at 104.65, the USD/JPY would face resistances at 104.85, 105.15 and 105.40. On the downside, supports are at 104.30, 104.10 and 103.80.