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1 Apr 2014
USD/JPY tests the 103.50 key level
FXStreet (San Francisco) - The USD/JPY jumped around 20 pips in the latest few minutes following the US opening bell and Manufacturing PMI data that remains in expansionary territory. Now the USD/JPY is testing the 103.50 area while trading at highs since March 7.
Currently, USD/JPY is trading at 103.48, up 0.25% on the day, having posted a daily high at 103.50 and low at 103.09. The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish. "In the 4 hours chart the technical picture is still bullish, and as long as price holds above the 103.00 figure," comments FXStreet chief analyst Valeria Bednarik. "The pair may attempt to advance towards March high of 103.85."
USD/JPY levels
Current price is 103.48, with resistance ahead at 103.50 (Daily High), 103.52 (Daily Classic R1), 103.79 (Weekly Classic R2), 103.82 (Daily Classic R2) and 104.19 (Daily Classic R3).
Next support to the downside can be found at 103.45 (Yesterday's High), 103.32 (Monthly High), 103.31 (Weekly Classic R1), 103.27 (Hourly 20 EMA) and 103.22 (Weekly High).
Currently, USD/JPY is trading at 103.48, up 0.25% on the day, having posted a daily high at 103.50 and low at 103.09. The FXStreet OB/OS Index is reflecting overbought hourly conditions, while the FXStreet Trend Index is slightly bullish. "In the 4 hours chart the technical picture is still bullish, and as long as price holds above the 103.00 figure," comments FXStreet chief analyst Valeria Bednarik. "The pair may attempt to advance towards March high of 103.85."
USD/JPY levels
Current price is 103.48, with resistance ahead at 103.50 (Daily High), 103.52 (Daily Classic R1), 103.79 (Weekly Classic R2), 103.82 (Daily Classic R2) and 104.19 (Daily Classic R3).
Next support to the downside can be found at 103.45 (Yesterday's High), 103.32 (Monthly High), 103.31 (Weekly Classic R1), 103.27 (Hourly 20 EMA) and 103.22 (Weekly High).