FXstreet.com (Barcelona) - With Nikkei index gaping higher above the 9100 points gaining some +0.59% following the +0.62% rise in the US stocks index SP500 ahead of a market close holiday later on, USD/JPY trades at 79.85, near session highs, and about flat for the week. The pair is higher though from previous Asia-Pacific open yesterday by +0.44%, capped below current weekly highs at 79.93/7.
Valeria Bednarik, Chief Analyst at Fxstreet.com, notes: “while indicators bounce slightly higher from their midlines, in the 4 hours chart price is still above moving averages, yet indicators continue losing momentum and turning lower right above their midlines, limiting the bullish potential of the pair,” the analyst says, expanding: “Sustained gains above 80.10 are needed to see the pair advancing towards 80.60 strong resistance level.”
Support levels are located at: 79.45 79.20, and 78.80, while resistance levels show at: 79.80 80.10, and 80.30.
Valeria Bednarik, Chief Analyst at Fxstreet.com, notes: “while indicators bounce slightly higher from their midlines, in the 4 hours chart price is still above moving averages, yet indicators continue losing momentum and turning lower right above their midlines, limiting the bullish potential of the pair,” the analyst says, expanding: “Sustained gains above 80.10 are needed to see the pair advancing towards 80.60 strong resistance level.”
Support levels are located at: 79.45 79.20, and 78.80, while resistance levels show at: 79.80 80.10, and 80.30.
