18 Feb 2014
USD/JPY resumes rise after pullback
FXStreet (Córdoba) - The rally of the USD/JPY propelled by BoJ decision to expand its lending facilities found an interim top at 102.73 during the European session.
The USD/JPY lost momentum after hitting a 3-week high and retreated somewhat, although the setback has been contained by the 102.30 zone so far. The USD/JPY is back above 102.50, recording a 0.6% gain Tuesday ahead of next string of US data.
USD/JPY technical perspective
From a technical perspective, Stoyan Mihaylov, analyst at DeltaStock.com noted that "Yesterday's rise from 101.36 peaked at 102.73 and the intraday outlook is already bearish, for a break through the crucial support at 102.15, en route to 100.70".
The USD/JPY lost momentum after hitting a 3-week high and retreated somewhat, although the setback has been contained by the 102.30 zone so far. The USD/JPY is back above 102.50, recording a 0.6% gain Tuesday ahead of next string of US data.
USD/JPY technical perspective
From a technical perspective, Stoyan Mihaylov, analyst at DeltaStock.com noted that "Yesterday's rise from 101.36 peaked at 102.73 and the intraday outlook is already bearish, for a break through the crucial support at 102.15, en route to 100.70".