16 Jun 2014
USD/JPY looking to break higher
FXStreet (Guatemala) - USD/JPY is trading at 101.86, down -0.17% on the day, having posted a daily high at 102.11 and low at 101.72.
RBS technical strategists said the USD/JPY is in a 100 – 105 range for now with further upside looming to 112 onto 120. From a USD/JPY monthly chart with Ichimoku cloud and Fibonacci retracements, they noted that above the cloud, lies the 50% fibo (100) and conversion line but noted the lag line that hits cloud resistance. MACD WC turns positive and hence 100-105 range is more likely to see upside break.
USD/JPY Levels
Current price is 101.86, with resistance ahead at 101.87 (Hourly 20 EMA), 101.94 (Daily Classic PP), 102.01 (Hourly 100 SMA), 102.06 (Daily Open) and 102.10 (Weekly Classic PP). Next support to the downside can be found at 101.74 (Daily Classic S1), 101.72 (Daily Low), 101.70 (Weekly Low), 101.66 (Yesterday's Low) and 101.58 (Daily 200 SMA).
RBS technical strategists said the USD/JPY is in a 100 – 105 range for now with further upside looming to 112 onto 120. From a USD/JPY monthly chart with Ichimoku cloud and Fibonacci retracements, they noted that above the cloud, lies the 50% fibo (100) and conversion line but noted the lag line that hits cloud resistance. MACD WC turns positive and hence 100-105 range is more likely to see upside break.
USD/JPY Levels
Current price is 101.86, with resistance ahead at 101.87 (Hourly 20 EMA), 101.94 (Daily Classic PP), 102.01 (Hourly 100 SMA), 102.06 (Daily Open) and 102.10 (Weekly Classic PP). Next support to the downside can be found at 101.74 (Daily Classic S1), 101.72 (Daily Low), 101.70 (Weekly Low), 101.66 (Yesterday's Low) and 101.58 (Daily 200 SMA).