15 Jan 2014
USD/JPY tests 104.50 on a pro-dollar environment
FXstreet.com (San Francisco) - The US Dollar jumped 30 pips in the latest few minutes against the Japanese Yen from intra-day lows around 104.20 to reach a fresh intra-week high of 104.50. Currently, the USD/JPY is trading at 104.48, 0.25% positive on the day.
The Dollar is being fueled by a stronger than expected NY Empire State manufacturing index that shows a jump in January to 12.51 pts from December figures of 2.22. It is the highest reading since May 2012.
USD/JPY bias
The short term perspective is now slightly bullish according to the FXStreet trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the south while the Stochastic is neutral.
Above the 104.50, the USD/JPY would face resistances at 104.75105.10 and 105.40. On the downside, supports are at 104.30, 103.95 and 103.55.
The Dollar is being fueled by a stronger than expected NY Empire State manufacturing index that shows a jump in January to 12.51 pts from December figures of 2.22. It is the highest reading since May 2012.
USD/JPY bias
The short term perspective is now slightly bullish according to the FXStreet trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the south while the Stochastic is neutral.
Above the 104.50, the USD/JPY would face resistances at 104.75105.10 and 105.40. On the downside, supports are at 104.30, 103.95 and 103.55.