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23 Jan 2015
USD/JPY was bid in the US close - FXStreet
FXStreet (Guatemala) - USD/JPY is coming in week in the Tokyo open, but for how long can offers defend the strong greenback, and Valeria Bednarik, chief analyst as FXStreet noted that the the USD/JPY was sharply higher by US close.
Key Quotes:
"Trading near its weekly high as dollar index hit a fresh multi-year high following ECBs’ stimulus news above 94.40 mid American afternoon."
"The stunning recovery in equity markets all over the world also favors the upside in the pair. Asian share markets should also cheer European money injection and remain bid today, meaning the pair will likely continue rising."
"From a technical point of view and in the short term, the 1 hour chart shows that price is now above their midlines, still in a tight range, whilst indicators crossed their midlines to the upside and continue to head higher, supporting some further advances."
"In the 4 hours chart technical indicators maintain a neutral stance, while a daily descendant trend line offers immediate resistance around 118.55, the level to overcome to see an extension towards the 119.00 figure."
Key Quotes:
"Trading near its weekly high as dollar index hit a fresh multi-year high following ECBs’ stimulus news above 94.40 mid American afternoon."
"The stunning recovery in equity markets all over the world also favors the upside in the pair. Asian share markets should also cheer European money injection and remain bid today, meaning the pair will likely continue rising."
"From a technical point of view and in the short term, the 1 hour chart shows that price is now above their midlines, still in a tight range, whilst indicators crossed their midlines to the upside and continue to head higher, supporting some further advances."
"In the 4 hours chart technical indicators maintain a neutral stance, while a daily descendant trend line offers immediate resistance around 118.55, the level to overcome to see an extension towards the 119.00 figure."