Back
2 Apr 2014
USD/JPY making fresh highs, 103.87
FXStreet (Guatemala) - Currently, USD/JPY is trading at 103.87, up 0.14% on the day, having posted a daily high at 103.91 and low at 103.60.
USD/JPY is seeing fresh bids on a follow through of the current sentiment and traders are looking o test the upside further. "A large negative hit to the Japanese’s economy from the sales tax hike would likely trigger further monetary easing from the BoJ by the end of Q2 potentially triggering an accelerated yen sell off", noted Lee Hardman, strategist at The Bank of Tokyo-Mitsubishi UFJ, Ltd.On the hourly USD/JPY chart, the 200 SMA is climbing and currently at 103.26, up from the previous hour close at 102.53.
USD/JPY Levels
Current price is 103.79, with resistance ahead at 103.79 (Weekly Classic R2), 103.83 (Daily High), 103.89 (Daily Classic R1), 104.13 (Daily Classic R2) and 104.53 (Daily Classic R3). Next support to the downside can be found at 103.73 (Yesterday's High), 103.65 (Daily Open), 103.65 (Monthly High), 103.65 (Weekly High) and 103.60 (Daily Low).
USD/JPY is seeing fresh bids on a follow through of the current sentiment and traders are looking o test the upside further. "A large negative hit to the Japanese’s economy from the sales tax hike would likely trigger further monetary easing from the BoJ by the end of Q2 potentially triggering an accelerated yen sell off", noted Lee Hardman, strategist at The Bank of Tokyo-Mitsubishi UFJ, Ltd.On the hourly USD/JPY chart, the 200 SMA is climbing and currently at 103.26, up from the previous hour close at 102.53.
USD/JPY Levels
Current price is 103.79, with resistance ahead at 103.79 (Weekly Classic R2), 103.83 (Daily High), 103.89 (Daily Classic R1), 104.13 (Daily Classic R2) and 104.53 (Daily Classic R3). Next support to the downside can be found at 103.73 (Yesterday's High), 103.65 (Daily Open), 103.65 (Monthly High), 103.65 (Weekly High) and 103.60 (Daily Low).