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12 Aug 2014
USD/JPY extended up to 102.36 on the day - FXStreet
FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that USD/JPY, which rose to the 102.36 level earlier on Tuesday, is currently retracing from the strong static resistance area.
Key quotes
"The hourly chart shows indicators crossing their midlines to the downside, which suggest some further slides ahead, albeit price holds above its 100 SMA limiting the ability of the pair to extend its decline at the time being."
"In the 4 hours chart indicators are biased higher, yet only a clear break above 102.30/40 price zone, will favor an advance up to 102.80 price zone."
Key quotes
"The hourly chart shows indicators crossing their midlines to the downside, which suggest some further slides ahead, albeit price holds above its 100 SMA limiting the ability of the pair to extend its decline at the time being."
"In the 4 hours chart indicators are biased higher, yet only a clear break above 102.30/40 price zone, will favor an advance up to 102.80 price zone."