USD/JPY Technicals – New 2013 Highs Once Again

USD/JPY Technicals – New 2013 Highs Once Again

Weekly Chart

BOJ should send a Christmas card for Bernanke and the Fed signed by Kuroda and Abe to express their gratitude. If they have not, a card "Happy New Year" is definitely in order that the shrinking of the Fed strengthened USD to the point that the USD / JPY managed to break previous 2013 high and is currently underway to reach 105.0. Before the Fed did this, there were serious doubts about USD / JPY will be able to break the 103.75 mark as the last series of the announcement of stimulus was most disappointing time with the market starts to lose BOJ faith in threatening to shoot higher Yen and USD / JPY lower. Without timely rescue Bernanke, it is quite possible that USD / JPY would be pushed lower and closer to 100.0 instead of where we are now.

That being said, the market is still waiting for BOJ to introduce additional stimulus 2014. If this does not materialize, it is possible that the strength of USD will be able to stem the slide. Therefore, even if a breakout is underway at the moment, do not automatically assume that an upward thrust continues to herein is a done deal.

Time Table

However, S / T leadership is certainly on the rise, with prices now pushing above the rising trend line was at stake just day before the FOMC decision. Currently we are trading above the peaks publish FOMC, suggesting that this upward thrust can have a little more legs to run. Stochastic is overbought readings, but there are still some more room to push higher over the previous base Stoch highs last week. Furthermore, there is no evidence that the bullish momentum is over, and we could even see a slight upward acceleration if the soft resistance of 108.4 broke

Links :.
AUD / USD Technicals - Soft Support Seen Versus bearish backdrop Strong
EUR / USD Technical - Bearish Pressure Intact But do not expect Slide Sudden
NZD / USD techniques - Lower Push to S / T and L / T support levels

This article is only for general information purposes. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or its subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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