23 Dec 2014
USD/JPY making 2 week highs - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the USD/JPY pair advanced to a fresh 2-week high of 120.01...
Key Quotes:
“...Consolidating a few pips below it for most of the US session”.
“Japan will have a banking holiday this Tuesday which points for limited activity during Asian hours, albeit the JPY maintains a bearish tone”.
“Latest COT report has shown net JPY shorts continued to retreat, reaching its lowest levels in 5 weeks. Nevertheless, the current recovery reinforces the idea of the latest decline being just corrective and due to some profit taking”.
“Technically, the 1 hour chart shows that the 100 SMA crossed above the 200 SMA in the 118.50 area, while indicators hold in positive territory but show no actual strength. In the 4 hours chart technical indicators are losing their upward strength but also hold above their midlines”.
Key Quotes:
“...Consolidating a few pips below it for most of the US session”.
“Japan will have a banking holiday this Tuesday which points for limited activity during Asian hours, albeit the JPY maintains a bearish tone”.
“Latest COT report has shown net JPY shorts continued to retreat, reaching its lowest levels in 5 weeks. Nevertheless, the current recovery reinforces the idea of the latest decline being just corrective and due to some profit taking”.
“Technically, the 1 hour chart shows that the 100 SMA crossed above the 200 SMA in the 118.50 area, while indicators hold in positive territory but show no actual strength. In the 4 hours chart technical indicators are losing their upward strength but also hold above their midlines”.