12 May 2014
USD/JPY back above 102.00, hits fresh highs
FXStreet (Córdoba) - The USD/JPY is gathering pace inspired by a positive start in Wall Street and the rise of US yields, having broken above the 102.00 level in recent dealings.
The USD/JPY rose past previous daily highs and reached a fresh 6-day one at 102.13. It would be important for the USD/JPY to hold above, as it has been struggling to do so over the last week, with 102.25 (May 5 high) as next bullish target. At time of writing, the pair is trading at 101.10, 0.26% above its opening price.
USD/JPY technical perspective
Valeria Bednarik, chief analyst at FXStreet notes that the pair presents a mild positive tone in short-term charts with next resistances at 102.35 and 102.60, while supports are seen at 101.60, 101.20 and 100.70.
The USD/JPY rose past previous daily highs and reached a fresh 6-day one at 102.13. It would be important for the USD/JPY to hold above, as it has been struggling to do so over the last week, with 102.25 (May 5 high) as next bullish target. At time of writing, the pair is trading at 101.10, 0.26% above its opening price.
USD/JPY technical perspective
Valeria Bednarik, chief analyst at FXStreet notes that the pair presents a mild positive tone in short-term charts with next resistances at 102.35 and 102.60, while supports are seen at 101.60, 101.20 and 100.70.