22 Dec 2014
USD/JPY surges, approaching 120 levels – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that the USD/JPY pair moves higher towards 120.00 levels alongside surging stocks, further anticipating price to accelerate above 120.00.
Key Quotes
“The USD/JPY pair surges alongside with stocks, approaching the 120.00 figure early US hours, albeit lacking momentum due to the inexistent volume across the forex board.”
“Short term, the 1 hour chart shows that indicators hold above their midlines, while 100 SMA approached 200 SMA both below current price at 118.45.”
“In the 4 hours chart, the indicators had turned flat above their midlines accordingly to current market conditions."
"Nevertheless, the upside is favored with price expected to accelerate some once above 120.00.”
Key Quotes
“The USD/JPY pair surges alongside with stocks, approaching the 120.00 figure early US hours, albeit lacking momentum due to the inexistent volume across the forex board.”
“Short term, the 1 hour chart shows that indicators hold above their midlines, while 100 SMA approached 200 SMA both below current price at 118.45.”
“In the 4 hours chart, the indicators had turned flat above their midlines accordingly to current market conditions."
"Nevertheless, the upside is favored with price expected to accelerate some once above 120.00.”