24 Dec 2013
USD/JPY pressing against 104.20, hourly cloud top
FXstreet.com (Bali) - USD/JPY is currently trading around the 104.20 vicinity (top hourly ichimoku cloud), after offers lying just above were filled yet no follow through was observed.
The Nikkei 225 continues to be buoyant despite losing part of its early gains, presently hovering just below the 16,000 psychological mark.
Interest to chase rallies in the Nikkei 225 ahead of such important resistance area coupled with thin conditions, suggest tight ranges may be limited.
Technically, USD/JPY exhibits an overall strong upward bias, despite limited trading engagement this week has led prices to consolidate in a 103.75-85/104.55-65 range.
The Nikkei 225 continues to be buoyant despite losing part of its early gains, presently hovering just below the 16,000 psychological mark.
Interest to chase rallies in the Nikkei 225 ahead of such important resistance area coupled with thin conditions, suggest tight ranges may be limited.
Technically, USD/JPY exhibits an overall strong upward bias, despite limited trading engagement this week has led prices to consolidate in a 103.75-85/104.55-65 range.