3 Jul 2013
USD/JPY establishing session highs
FXstreet.com (New York) - The USD/JPY foreign exchange rate has now moved to notch fresh highs during Asian trading, building on yesterday’s steadfast performance.
USD/JPY testing 92.00 level
Given the recent USD strength, and by extension the rise of the USD/JPY, the pair is now trading at 100.79, slightly below its Asian highs of 100.87. Technically speaking, the pair has broken above virtually every resistance in its path, including the most recent at 100.50, notes the Mataf.net analyst team.
USD/JPY bigger gains on the horizon?
According to Valeria Bedarik, an analyst at FXstreet.com, “The USD/JPY spent most of the last session consolidating its break above 100.00 having found resistance as expected in the 100.70 price zone. The hourly chart shows indicators exhausted to the upside and turning lower still in overbought territory, anticipating a limited correction lower ahead of more gains.”
USD/JPY testing 92.00 level
Given the recent USD strength, and by extension the rise of the USD/JPY, the pair is now trading at 100.79, slightly below its Asian highs of 100.87. Technically speaking, the pair has broken above virtually every resistance in its path, including the most recent at 100.50, notes the Mataf.net analyst team.
USD/JPY bigger gains on the horizon?
According to Valeria Bedarik, an analyst at FXstreet.com, “The USD/JPY spent most of the last session consolidating its break above 100.00 having found resistance as expected in the 100.70 price zone. The hourly chart shows indicators exhausted to the upside and turning lower still in overbought territory, anticipating a limited correction lower ahead of more gains.”