Back
3 Apr 2014
USD/JPY has brief round trip to 104.00
FXStreet (Bali) - USD/JPY has made yet another high reaching the 104.00 mark, however it was a very brief round trip, with price retracing back towards 103.90 amid improved sentiment in the Nikkei 225, up +0.9% in Tokyo morning trade.
Commenting on the pair, Valeria Bednarik, Chief Analyst at FXStreet said: "Risk has turned to the upside in the pair, albeit the hourly chart shows indicators heading lower around their midlines diverging from price action. But the overall stance is bullish for the pair, with a break above the 104.00 figure now required to confirm more advances for today."
Commenting on the pair, Valeria Bednarik, Chief Analyst at FXStreet said: "Risk has turned to the upside in the pair, albeit the hourly chart shows indicators heading lower around their midlines diverging from price action. But the overall stance is bullish for the pair, with a break above the 104.00 figure now required to confirm more advances for today."