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3 Apr 2014
USD/JPY holds near 104.00
FXStreet (Córdoba) - The USD/JPY rose for the fifth day in a row on Wednesday and finished near the 104.00 mark, at 103.87, the highest close since January 22. The US dollar continued to rally against the Yen on the back of risk appetite, US data and rising Treasury yields.
USD/JPY with support above 103.50
During yesterday’s Asian session the USD/JPY peaked at 103.92, a fresh 2-month high and the pulled back slightly finding support at 103.55/60. “After a downward corrective movement held above 103.60, risk has turned to the upside in the pair, albeit the hourly chart shows indicators heading lower around their midlines diverging from price action”, says Valeria Bednarik, Chief Analyst at FXStreet.
The overall stance remains bullish notes Bednarik. “A break above the 104.00 figure now required to confirm more advances for today”.
USD/JPY with support above 103.50
During yesterday’s Asian session the USD/JPY peaked at 103.92, a fresh 2-month high and the pulled back slightly finding support at 103.55/60. “After a downward corrective movement held above 103.60, risk has turned to the upside in the pair, albeit the hourly chart shows indicators heading lower around their midlines diverging from price action”, says Valeria Bednarik, Chief Analyst at FXStreet.
The overall stance remains bullish notes Bednarik. “A break above the 104.00 figure now required to confirm more advances for today”.