OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/JPY testing key resistance

FXStreet (Barcelona) - USD/JPY is trading at 106.32, down -0.01% on the day, having posted a daily high at 106.37 and low at 106.31.

USD/JPY broke up through the 106.20 resistance line on a move that took the pair from the midrange of the 105 handle. Fundamentally it was another day of stocks as the driving force with volatility playing out in the US session but in respect of the Yens technical picture, Valeria Bednarik noted that in the 4 hours chart indicators aim higher from overbought territory while moving averages stand way above current price. “An advance above 106.30 should signal some short term gains towards 106.70/80 price zone, but it will take the pair to regain this last to confirm a firmer upward pace”.

USD/JPY noteworthy levels

Spot is presently trading at 106.33, and next resistance can be seen at 106.35, 106.82 (Hourly 100 SMA) and 107.10. Next support to the downside can be found at 106.31 (Daily Low), 106.21 (Daily Classic PP), 106.10 (Hourly 20 EMA), 106.01 (Weekly ClassicS2) and 105.92 (Monthly Low).

EUR/AUD: Critical 1.46 / 38.3 fib breakout, 200-DMA within reach

EUR/AUD is for the first time since early June this year exchanging hands above a critical horizontal resistance-turned-support at 1.4550/1.46, assisted by the pick up in risk sentiment on Thursday.
Read more Previous

Fed to begin hikes in Q2 2015 a 60% probability - BNZ

The Fed remains on course to begin rate hikes in Q2 2015, notes Bank of New Zealand, a scenario which the bank assigns a 60% probability.
Read more Next
Start livechat