17 Jun 2015
USD/JPY sees upside potential above 124.10 – FXStreet
FXStreet (Barcelona) - USD/JPY technicals remain in favour of additional advance, especially on a break above the 124.10 resistance, according to Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
“The USD/JPY pair has woke up from its lethargy, pressuring the 124.00 level ahead of the US session opening. With no catalyst behind the move, the pair maintains a strong positive tone in the short term, as the 1 hour chart shows that the price advanced above its 100 and 200 SMAs, whilst the technical indicators are resuming their advance in overbought territory, after a limited downward corrective move.”
“In the 4 hours chart, the technical indicators also head higher above their mid-lines, supporting additional intraday advances, should the price extend above 124.10, the immediate resistance.”
“Support levels: 123.70 123.30 122.80”
“Resistance levels: 124.10 124.45 124.90”
Key Quotes
“The USD/JPY pair has woke up from its lethargy, pressuring the 124.00 level ahead of the US session opening. With no catalyst behind the move, the pair maintains a strong positive tone in the short term, as the 1 hour chart shows that the price advanced above its 100 and 200 SMAs, whilst the technical indicators are resuming their advance in overbought territory, after a limited downward corrective move.”
“In the 4 hours chart, the technical indicators also head higher above their mid-lines, supporting additional intraday advances, should the price extend above 124.10, the immediate resistance.”
“Support levels: 123.70 123.30 122.80”
“Resistance levels: 124.10 124.45 124.90”