USD/JPY
pair was trading elevated today with moving higher above 50-day, 100-day
and 200-day moving averages. The pair
has not been so much uplifted for months and probably the rising expectations
for Fed’s rate hike are provoking for US dollar’s strength and at the same time
pressuring for the safe haven yen.
Anyway the USD/JPY pair marked today an intraday high at 104.14, but couldn’t hold
it for long time and slight downward movement followed. Currently the pair is
consolidating around 104 handle. It is very hard to predict the further
behaviour of the pair, especially tomorrow, as the NFP release is going to be
the main engine that will stir the markets.RSI
is showing overbought market and stochastic is showing strong strong momentum
is above the 80 line. Resistance
is now located at 104.30 and further on at 105.00, which is key pattern.
Looking downwards support is seen at 103.69 and 102.64.
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