Back
13 Mar 2015
USD/JPY: above 121.95 will gain strong upward momentum – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, gives explains that USD/JPY technicals exhibit a neutral stance, with the pair seeking a catalyst for further upside movement.
Key Quotes
“The USD/JPY consolidates in a tight range around the 121.40 level, unable to find a catalyst. The 1 hour chart presents a mild positive tone, as the price holds above a bullish 100 SMA whilst the indicators bounce higher from their midlines, amid showing no actual momentum.”
“In the 4 hours chart the pair presents a neutral technical stance, with the technical indicators flat right above their midlines.”
“Some follow through above 121.95 is required to see the pair gaining a stronger upward momentum, whilst dips towards the 121.00 price zone will likely attract buyers, keeping the pair within range.”
“Support levels: 121.15 120.65 120.30"
“Resistance levels: 121.50 121.95 122.40”
Key Quotes
“The USD/JPY consolidates in a tight range around the 121.40 level, unable to find a catalyst. The 1 hour chart presents a mild positive tone, as the price holds above a bullish 100 SMA whilst the indicators bounce higher from their midlines, amid showing no actual momentum.”
“In the 4 hours chart the pair presents a neutral technical stance, with the technical indicators flat right above their midlines.”
“Some follow through above 121.95 is required to see the pair gaining a stronger upward momentum, whilst dips towards the 121.00 price zone will likely attract buyers, keeping the pair within range.”
“Support levels: 121.15 120.65 120.30"
“Resistance levels: 121.50 121.95 122.40”