Back
17 Jun 2013
USD/JPY extends gains above 94.50
FXstreet.com (Barcelona) - The USD/JPY is last trading at 94.69 off recent session highs at 94.78, up from previous weekly close Friday around the 94.08 level, on the back of combined USD strength across the board and Yen weakness. The pair is up +0.66% for the day so far.
Corrective action limited by 95.25 resistance
“Limited corrective action could precede fresh bears, as 4-hour conditions are extended,” said analyst at Windsor Brokers and contributor at FXstreet.com Slobodan Drvenica, adding: “Immediate resistance is offered by descending 20DMA at 95.25, while break above 96.00, Friday’s high / 38.2% of 99.27/93.79 downleg, would be initial signal of short-term basing attempt, confirmation of which requires regain of minimum 97.20, 61.8% /55DMA,” Drvenica concludes.
Nikkei reverses losses; Japan PM Abe arrived in Belfast for G-8
Nikkei index reverses initial loses after opening around the 12580 level down -0.75%, for now trading above 12800 up +1.33%. Japan Abe has been first PM to arrive at G-8 meeting later on in Belfast, Norther Ireland, which will be main risk event for the upcoming hours.
Corrective action limited by 95.25 resistance
“Limited corrective action could precede fresh bears, as 4-hour conditions are extended,” said analyst at Windsor Brokers and contributor at FXstreet.com Slobodan Drvenica, adding: “Immediate resistance is offered by descending 20DMA at 95.25, while break above 96.00, Friday’s high / 38.2% of 99.27/93.79 downleg, would be initial signal of short-term basing attempt, confirmation of which requires regain of minimum 97.20, 61.8% /55DMA,” Drvenica concludes.
Nikkei reverses losses; Japan PM Abe arrived in Belfast for G-8
Nikkei index reverses initial loses after opening around the 12580 level down -0.75%, for now trading above 12800 up +1.33%. Japan Abe has been first PM to arrive at G-8 meeting later on in Belfast, Norther Ireland, which will be main risk event for the upcoming hours.