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USD/JPY advances on positive mood among stocks traders - FXStreet

FXStreet (Łódź) - In the opinion of FXStreet Chief Analyst Valeria Bednarik the USD/JPY strength was boosted somewhat today by a positive mood among stocks traders.

Key quotes

"Nevertheless, the pair holds below the 102.80 critical price zone, where the pair not only stalled several times over the past few months, but also presents a daily descendant trend line coming from this year high."

"The hourly chart shows price advancing above its moving averages and indicators in positive territory, albeit lacking strength at the time being."

"In the 4 hours chart moving averages maintain a strong upward tone, with 100 SMA offering intraday support around 102.35, while indicators remain neutral."

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