http://www.xm.com/technical-analysis-usdjpy-maintains-upside-momentum-22555

23 December, 2014

USDJPY has regained upside momentum, rising for 5 straight days after bouncing off 115.55. The kijun-sen line has crossed above the tenkan-sen line which is a bullish signal. RSI is back into bullish territory above 50. There is scope for a retest of 121.84, the 7-year high hit on December 8.

To the downside, there is immediate support at 117.90 which is the 23.6% Fibonacci retracement level of the move up from 105.19 to 121.84. Below this strong support is seen at 115.55, the December 16 low and 38.2% Fibonacci level. Below this level the bullish bias will shift to the downside. However the overall long term market structure is bullish as prices are above the Ichimoku cloud.


Source link  
Dollar stabilizes after drop

The dollar stabilized today after sliding to a four-month low against the yen in reaction to news of the setback on healthcare reform...

Euro rallies after French debate

The dollar remained soft in Asian trading today as it came under pressure from falling US Treasury yields following not-so-hawkish speeches by Fed officials on Monday. Chicago Fed President Charles Evans quashed hopes for a faster pace of rate hikes...

Price approximately at 6-week high

EURUSD is currently up for the day and roughly at the level of the six-week high of 1.0782 recorded on Thursday. The RSI indicator is pointing to a bullish short-term bias as it is well above the 50 neutral level at 61...


Euro gets added boost

The euro was one of the top performing major currencies in the Asian session today after being lifted...

Antipodean currencies in the spotlight

The Asian session was an interesting one for both AUD and the NZD...

Dollar subdued ahead of Fed

The US dollar traded in a narrow rage against the yen as investors await the outcome of the Federal Reserve’s two-day policy meeting later today. It is widely expected that the FOMC will announce a rate hike...


EURGBP tests cloud base

EURGBP is being capped by the daily Ichimoku cloud which is acting as very strong resistance. The last time...

GBPUSD bottoms at 57-month low, bearish bias remains

GBPUSD touched a 57-month low of 1.4634 on Wednesday but bounced on...

USDJPY consolidates, scope for upside

USDJPY consolidated after a sharp rally from 105.19...

  


Share: