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2 Dec 2014
USD/JPY creates a new multiyear high at 119.27 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that the USD/JPY pair climbed to a fresh multiyear high of 119.27 alongside the surging Nikkei.
Key Quotes
“The USD/JPY trades at a fresh multiyear high above the 119.00 figure, having reached so far 119.27 on the day, on the back of Nikkei surging also to levels not seen in over 7 years past Asian session.”
“The good mood among stocks traders however, seems to be easing early US session. Nevertheless, the pair maintains a positive short term tone according to the 1 hour chart, with price well above moving averages and indicators turning flat in overbought territory.”
“In the 4 hours chart indicators aim higher above their midlines, supporting the shorter term view and limiting chances of a slide for the upcoming hours.”
Key Quotes
“The USD/JPY trades at a fresh multiyear high above the 119.00 figure, having reached so far 119.27 on the day, on the back of Nikkei surging also to levels not seen in over 7 years past Asian session.”
“The good mood among stocks traders however, seems to be easing early US session. Nevertheless, the pair maintains a positive short term tone according to the 1 hour chart, with price well above moving averages and indicators turning flat in overbought territory.”
“In the 4 hours chart indicators aim higher above their midlines, supporting the shorter term view and limiting chances of a slide for the upcoming hours.”