18 Dec 2014
USD/JPY breaks above 119.00 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that USD/JPY broke above 119.00 levels on the back of positive US data and rising equities.
Key Quotes
“After a consolidative phase during the last 2 sessions, the USD/JPY pair broke above the 119.00 on US positive data, finding support also in rising stocks.”
”The pair trades at a fresh 5-day high and the 1 hour chart shows it finally advanced above its 200 SMA, while momentum heads higher above 100 and RSI stands near 70.”
“In the 4 hours chart technical readings present a strong upward momentum which supports further advances on a break above 119.45 immediate short term resistance.”
Key Quotes
“After a consolidative phase during the last 2 sessions, the USD/JPY pair broke above the 119.00 on US positive data, finding support also in rising stocks.”
”The pair trades at a fresh 5-day high and the 1 hour chart shows it finally advanced above its 200 SMA, while momentum heads higher above 100 and RSI stands near 70.”
“In the 4 hours chart technical readings present a strong upward momentum which supports further advances on a break above 119.45 immediate short term resistance.”