21 Jan 2014
USD/JPY and Nikkei 225 moving higher
FXstreet.com (Córdoba) - The USD/JPY is rising strongly early in Asia and recently reached at 104.54 a new daily high. Stocks in Japan turned to the upside and the Nikkei 225 is gaining 0.80% in the first our of trading.
USD/JPY testing resistance at 104.50
Recent movements sent the USD/JPY above short-term resistance levels and also on top of an hourly downtrend line, giving upside momentum. At the momentum of writing the USD/JPY was trading at daily highs, testing levels above the resistance area located at 104.50, at prices not seen since last Thursday.
The US dollar resume the upside after falling in the previous three trading days. Above 104.50, immediate resistance lies at 104.65 ahead of 104.90 where last week highs lie. To the downside, immediate support now lies at 104.25 and below at 103.85 (January 20 lows).
USD/JPY testing resistance at 104.50
Recent movements sent the USD/JPY above short-term resistance levels and also on top of an hourly downtrend line, giving upside momentum. At the momentum of writing the USD/JPY was trading at daily highs, testing levels above the resistance area located at 104.50, at prices not seen since last Thursday.
The US dollar resume the upside after falling in the previous three trading days. Above 104.50, immediate resistance lies at 104.65 ahead of 104.90 where last week highs lie. To the downside, immediate support now lies at 104.25 and below at 103.85 (January 20 lows).