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USD/JPY reaches new yearly high at 109.84- FXStreet

FXStreet (Łódź) - As FXStreet Chief Analyst Valeria Bednarik points out, USD/JPY hit a fresh yearly high on Tuesday before pulling back slightly.

Key quotes

"The 1 hour chart shows price well above 100 and 200 SMAs both maintaining a shy bullish slope, while indicators eased some from overbought territory."

"In the 4 hours chart indicators also turned lower but hold well above their midlines, showing no actual upward strength, neither signs of a retracement."

"The dominant bullish trend prevails regardless mild positive technical readings, and retracements are still seen as buying opportunities now on approaches to the 109.00 price zone."

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