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7 Aug 2014
USD/JPY grinds slowly higher - FXStreet
FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik notes that the USD/JPY is climbing on Wednesday, boosted by the positive US jobless claims numbers and the advance in US stocks.
Key quotes
"Nevertheless, the hourly chart shows 100 and 200 SMAs converging in the 102.50 price zone, offering immediate resistance, while indicators support the upside as per bouncing from their midlines."
"In the 4 hours chart indicators advance some but remain below their midlines, with price action supporting some upward continuation, firmer with a break above mentioned resistance zone."
Key quotes
"Nevertheless, the hourly chart shows 100 and 200 SMAs converging in the 102.50 price zone, offering immediate resistance, while indicators support the upside as per bouncing from their midlines."
"In the 4 hours chart indicators advance some but remain below their midlines, with price action supporting some upward continuation, firmer with a break above mentioned resistance zone."