Back
5 Jul 2013
USD/JPY closes out week notching steadfast gains
FXstreet.com (New York) - The USD/JPY intraweek resurgence has gone hand in hand with the widespread fortification in the USD across the board.
USD/JPY sets sights on 102.60
Indeed, the USD/JPY has not only reestablished its hold above the 100.00 barrier, but climbed past the 101.00 region Friday on upbeat US payroll data. Moving forward, “The overbought sign on the stochastic has been neglected and thus, we change our neutral stance to a bullish one, aiming to breach the technical objective at 102.60.” suggests the Technical analyst team at ICN.com.
USD/JPY third resistance holding advance
In light of the recent easing, the USD/JPY is now settling at 101.21 up +1.15% Briefing the technical levels, Mataf.net analysts have identified resistance at 101.48 (previous short-term resistances at 100.62, and 100.92 were breached).
According to Xiomara Vargas at FXCM, "The USD extended the advance from earlier this week as the better-than-expected Non-Farm Payrolls report furthered the argument for the Federal Reserve to taper its asset-purchase program. Moreover, the bullish sentiment surrounding the reserve currency may gather pace over the near to medium-term as the outlook for growth and inflation improves.
USD/JPY sets sights on 102.60
Indeed, the USD/JPY has not only reestablished its hold above the 100.00 barrier, but climbed past the 101.00 region Friday on upbeat US payroll data. Moving forward, “The overbought sign on the stochastic has been neglected and thus, we change our neutral stance to a bullish one, aiming to breach the technical objective at 102.60.” suggests the Technical analyst team at ICN.com.
USD/JPY third resistance holding advance
In light of the recent easing, the USD/JPY is now settling at 101.21 up +1.15% Briefing the technical levels, Mataf.net analysts have identified resistance at 101.48 (previous short-term resistances at 100.62, and 100.92 were breached).
According to Xiomara Vargas at FXCM, "The USD extended the advance from earlier this week as the better-than-expected Non-Farm Payrolls report furthered the argument for the Federal Reserve to taper its asset-purchase program. Moreover, the bullish sentiment surrounding the reserve currency may gather pace over the near to medium-term as the outlook for growth and inflation improves.