22 Jan 2014
USD/JPY's advance tests the 104.50 area
FXstreet.com (San Francisco) - The Dollar comeback against the Japanese Yen from 104.25 found resistance at the 104.50 level where it has been testing several times in the latest hour.
The USD/JPY remains, however, well placed inside its recent hours range in between 104.25 and 104.50. "The greenback is recouping some of its lost ground, aided by a rebound in US bond yields (10 year notes up near 4 bp in yield to 2.86%) and a bounce back in stocks," commented FXBeat analyst Jamie Coleman.
USD/JPY levels
Currently, the USD/JPY is trading at 104.47, 0.08% positive on the day. The short term perspective is slightly bullish according to the FXStreet trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.
Above the 104.50 level, the USD/JPY would face resistances at 104.60 and 104.75. On the downside, supports are at 104.25, 104.15 and 104.00.
The USD/JPY remains, however, well placed inside its recent hours range in between 104.25 and 104.50. "The greenback is recouping some of its lost ground, aided by a rebound in US bond yields (10 year notes up near 4 bp in yield to 2.86%) and a bounce back in stocks," commented FXBeat analyst Jamie Coleman.
USD/JPY levels
Currently, the USD/JPY is trading at 104.47, 0.08% positive on the day. The short term perspective is slightly bullish according to the FXStreet trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.
Above the 104.50 level, the USD/JPY would face resistances at 104.60 and 104.75. On the downside, supports are at 104.25, 104.15 and 104.00.