5 Jun 2015
USD/JPY sees additional gains above 126 – FXStreet
FXStreet (Barcelona) - With strong US payrolls boosting USD/JPY above the 125 handle, the technical indicators suggest the pair sees scope for further gains, according to Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
“The USD/JPY pair skyrocketed through the 125.00 figure, soaring to levels not seen since late 2002, at 125.85.”
“Holding on to its gains, the 1 hour chart shows that the technical indicators are losing their upward strength in extreme overbought levels, but far from suggesting a downward corrective movement under way.”
“In the 4 hours chart the technical indicators maintain their strong upward strength, supporting additional gains for the upcoming sessions, furthermore if the pair breaks above 126.00.”
“Support levels: 125.50 125.10 124.70”
“Resistance levels: 125.85 126.10 126.50”
Key Quotes
“The USD/JPY pair skyrocketed through the 125.00 figure, soaring to levels not seen since late 2002, at 125.85.”
“Holding on to its gains, the 1 hour chart shows that the technical indicators are losing their upward strength in extreme overbought levels, but far from suggesting a downward corrective movement under way.”
“In the 4 hours chart the technical indicators maintain their strong upward strength, supporting additional gains for the upcoming sessions, furthermore if the pair breaks above 126.00.”
“Support levels: 125.50 125.10 124.70”
“Resistance levels: 125.85 126.10 126.50”