28 Nov 2014
USD/JPY buyers reappear on Friday – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that USD/JPY buyers have reappeared on Friday as the pair trades at a fresh 3-day high ahead of US opening.
Key Quotes
“USD/JPY buyers reappeared on Friday, as the pair trades at a fresh 3-day high ahead of US opening, having recovered above its 100 and 200 SMAs in the 1 hour chart and breaking above a short term descendant trend line coming from this year high at 118.97.”
“Indicators in the mentioned time frame head higher above their midlines, while in the 4 hours chart technical readings also present a bullish tone: as long as above 117.95 immediate support, chances are of a retest of the mentioned year high.”
Key Quotes
“USD/JPY buyers reappeared on Friday, as the pair trades at a fresh 3-day high ahead of US opening, having recovered above its 100 and 200 SMAs in the 1 hour chart and breaking above a short term descendant trend line coming from this year high at 118.97.”
“Indicators in the mentioned time frame head higher above their midlines, while in the 4 hours chart technical readings also present a bullish tone: as long as above 117.95 immediate support, chances are of a retest of the mentioned year high.”