10 Feb 2015
USD/JPY eyeing 120.00 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes technicals suggest that USD/JPY exhibits a strong upward momentum, favouring further advances towards 120.00 levels.
Key Quotes
“The USD/JPY triggered stops above past Friday's high of 119.21, surging to a fresh 1 month high of 119.57, supported by the improvement in market sentiment.”
“The movement has left the price above the daily descendant trend line coming from December multi-year high, anticipating a firmer advance in the midterm.”
“In the shorter term, the 1 hour chart shows that the technical indicators have turned strongly bullish, with RSI entering overbought territory, following the sharp advance.”
“In the 4 hours chart the pair also presents a strong upward momentum that favors further advances up to the critical 120.00 figure.”
Key Quotes
“The USD/JPY triggered stops above past Friday's high of 119.21, surging to a fresh 1 month high of 119.57, supported by the improvement in market sentiment.”
“The movement has left the price above the daily descendant trend line coming from December multi-year high, anticipating a firmer advance in the midterm.”
“In the shorter term, the 1 hour chart shows that the technical indicators have turned strongly bullish, with RSI entering overbought territory, following the sharp advance.”
“In the 4 hours chart the pair also presents a strong upward momentum that favors further advances up to the critical 120.00 figure.”