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28 Nov 2013
USD/JPY unstoppable: fresh 102.27 6-month peaks
FXstreet.com (Chicago) - USD/JPY won’t stop edging higher putting the bears under extreme unbearable pressure and printing fresh 6-month highs breaking through a previous resistance on yesterday’s spike ahead of Tokyo’s opening.
USD/JPY Technical Levels
Price action reveals the pair extends the bullish channel and remains strong ahead of Tokyo’s opening printing new 6-month highs at 102.27 and putting under high pressure the bears with potential spikes above that front. Technically speaking, the pair is offered at 102.24 and navigates between the supports aligned at 101.91 (November 25th highs), 101.32 (November 21st highs) ahead of 100.52 (November 20th highs) and the resistances set at 102.56 (May 1st 2008 lows), 103.37 (September 1st 2008 lows) followed by 104.55 (January 1st 2008 lows). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and navigates above the EMA20.
USD/JPY Technical Levels
Price action reveals the pair extends the bullish channel and remains strong ahead of Tokyo’s opening printing new 6-month highs at 102.27 and putting under high pressure the bears with potential spikes above that front. Technically speaking, the pair is offered at 102.24 and navigates between the supports aligned at 101.91 (November 25th highs), 101.32 (November 21st highs) ahead of 100.52 (November 20th highs) and the resistances set at 102.56 (May 1st 2008 lows), 103.37 (September 1st 2008 lows) followed by 104.55 (January 1st 2008 lows). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and navigates above the EMA20.