23 Jan 2014
USD/JPY popping higher with eyes for 104.90 resistance perhaps?
FXstreet.com (Guatemala) - FXstreet.com (Guatemala) - USD/JPYpopped higher 104.71 the current high on a break post Japans foreign bond investment readings and investments in stocks.
The readings came in as Japans foreign bond investment Yen 1226B and then Foreign investment in Japan stocks (Jan 17) Yen 71.2B. Meanwhile, Karen Jones, chief analyst at Commerzbank suggests that the market will re-test the 105.45/50 zone here and a deeper retracement taking hold to 102.05 and possibly 101.00, the 38.2% and 50% retracements of the move up from October.
USD/JPY Levels
The 20 DMA is 104.51, the 50 DMA is 103.03 and the 200 DMA is 99.85. RSI (14) reads 63.52. Supports are ascending from 103.64,103.85,
103.97, 104.22. Spot is 104.70 while resistances are 104.92,105.13 and 105.50.
The readings came in as Japans foreign bond investment Yen 1226B and then Foreign investment in Japan stocks (Jan 17) Yen 71.2B. Meanwhile, Karen Jones, chief analyst at Commerzbank suggests that the market will re-test the 105.45/50 zone here and a deeper retracement taking hold to 102.05 and possibly 101.00, the 38.2% and 50% retracements of the move up from October.
USD/JPY Levels
The 20 DMA is 104.51, the 50 DMA is 103.03 and the 200 DMA is 99.85. RSI (14) reads 63.52. Supports are ascending from 103.64,103.85,
103.97, 104.22. Spot is 104.70 while resistances are 104.92,105.13 and 105.50.