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26 Feb 2014
USD/JPY popping up for air, onto 102.40
FXStreet (Guatemala) - USD/JPY is attempting a run to the upside and has broken through the triple top 102.25 and extending through the highs onto 102.40, currently oscillating slightly below on a slow grinding performance.
USD/JPY is bid above key support zones and a plentiful of stops on the chatter below the 20 DMA. Karen Jones, chief economist at Commerzbank said, “The recent move above the 20 day ma suggests upside scope for further recovery and we should see a move to 103.34/45 (the 55 day ma + 29th Jan high). This guards 104.45 en route to the more important 105.45/50 recent high and long term Fibo”.
USD/JPY Levels
The 20 DMA is 102.18, the 50 DMA is 103.38 and the 200 DMA is 100.19. RSI (14) reads 55.61. Supports are ascending from 101.67, 101.97 and 102.17.Spot is 102.40 while resistances are 102.68, 102.85,102.94 and 103.10.
USD/JPY is bid above key support zones and a plentiful of stops on the chatter below the 20 DMA. Karen Jones, chief economist at Commerzbank said, “The recent move above the 20 day ma suggests upside scope for further recovery and we should see a move to 103.34/45 (the 55 day ma + 29th Jan high). This guards 104.45 en route to the more important 105.45/50 recent high and long term Fibo”.
USD/JPY Levels
The 20 DMA is 102.18, the 50 DMA is 103.38 and the 200 DMA is 100.19. RSI (14) reads 55.61. Supports are ascending from 101.67, 101.97 and 102.17.Spot is 102.40 while resistances are 102.68, 102.85,102.94 and 103.10.