3 Dec 2014
USD/JPY ready to test 120.00 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, sees the USD/JPY pair ready to test the 120.00 levels as it accelerates above 119.60 levels gathering further upward momentum.
Key Quotes
“The USD/JPY accelerates to fresh multiyear highs above the 119.60 level with US opening, and ready to test 120.00 figure as the 1 hour chart shows a strong upward momentum coming from technical readings, and price distancing from moving averages, with 100 SMA finally gaining some bullish slope above 200 one.”
“In the 4 hours chat momentum heads higher above 100 while RSI stands flat around 70, where it has been for most of this week. Nevertheless, the pair shows little aims to correct lower, with approaches to the 119.00 figure seen as short term buying opportunities.”
Key Quotes
“The USD/JPY accelerates to fresh multiyear highs above the 119.60 level with US opening, and ready to test 120.00 figure as the 1 hour chart shows a strong upward momentum coming from technical readings, and price distancing from moving averages, with 100 SMA finally gaining some bullish slope above 200 one.”
“In the 4 hours chat momentum heads higher above 100 while RSI stands flat around 70, where it has been for most of this week. Nevertheless, the pair shows little aims to correct lower, with approaches to the 119.00 figure seen as short term buying opportunities.”