16 Jul 2014
USD/JPY rises a few pips on the day - FXStreet
FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik points out that due to a rise in stocks on Wednesday USD/JPY climbed a few pips to 101.70.
Key quotes
"Nevertheless the pair shows no upward momentum, and the hourly chart shows price easing towards 101.60 support, while indicators turned lower above their midlines."
"In the 4 hours chart technical readings also turned south in positive territory, not yet signaling a downward move."
"Eeither a price acceleration above 101.95 or below 101.60 is required to confirm a more directional intraday move. "
Key quotes
"Nevertheless the pair shows no upward momentum, and the hourly chart shows price easing towards 101.60 support, while indicators turned lower above their midlines."
"In the 4 hours chart technical readings also turned south in positive territory, not yet signaling a downward move."
"Eeither a price acceleration above 101.95 or below 101.60 is required to confirm a more directional intraday move. "