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15 Jan 2015
USD/JPY extending gains towards 117.70 minor resistance
FXStreet (Guatemala) - USD/JPY is currently trading at 117.53 on the bid with a high of 117.65 and a low of 117.12 and up 0.23% on the day.
USD/JPY is continuing on the bid having drifted up through the 117.20 resistance and has continued to pile on the bids all the way through the mid point and taking the price up to the highs where the market in Tokyo is changing hands currently. The trend here is an extension of the recovery overnight from down at 116.20.
Technically, 117.50 and 117.70 will be minor hurdles as suggested by Jim Langlands at FX Charts. "Beyond 118.00 today, if seen, the 100 HMA/Daily Tenkan (118.30), the daily Kijun (118.70) and the 200 HMA (118.95) will see sellers. Beyond there, a break of 119.00, which looks a bit unlikely today, would run towards Friday’s post-NFP high at 119.77 and then to last Thursdays high of 119.95".
USD/JPY is continuing on the bid having drifted up through the 117.20 resistance and has continued to pile on the bids all the way through the mid point and taking the price up to the highs where the market in Tokyo is changing hands currently. The trend here is an extension of the recovery overnight from down at 116.20.
Technically, 117.50 and 117.70 will be minor hurdles as suggested by Jim Langlands at FX Charts. "Beyond 118.00 today, if seen, the 100 HMA/Daily Tenkan (118.30), the daily Kijun (118.70) and the 200 HMA (118.95) will see sellers. Beyond there, a break of 119.00, which looks a bit unlikely today, would run towards Friday’s post-NFP high at 119.77 and then to last Thursdays high of 119.95".