20 Jan 2015
USD/JPY mildly positive - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that having been as low as 117.01 early Asia, the USD/JPY erased its intraday losses.
Key Quotes:
"The USD/JPY pair presents a mild positive tone in the short term, with the 1 hour chart showing price advancing above 20 and 100 SMAs, and indicators holding in positive territory, albeit lacking directional momentum".
"In the 4 hours chart momentum heads higher above 100 while RSI remains flat around 50, enough at least to limit the downside. Former daily lows around 118.10/20 are now the immediate resistance level to follow, as the price needs to advance above it to extend this recovery towards the 119.00 price zone".
Key Quotes:
"The USD/JPY pair presents a mild positive tone in the short term, with the 1 hour chart showing price advancing above 20 and 100 SMAs, and indicators holding in positive territory, albeit lacking directional momentum".
"In the 4 hours chart momentum heads higher above 100 while RSI remains flat around 50, enough at least to limit the downside. Former daily lows around 118.10/20 are now the immediate resistance level to follow, as the price needs to advance above it to extend this recovery towards the 119.00 price zone".