USD/JPY Current price: 124.63
View Live Chart for the USD/JPY
Fresh highs, scope to test 125.00. The USD/JPY pair trades at levels not seen since mid June, struggling however to extend its gains. The pair printed a high of 124.57 so far in the day, and maintains a strong positive short term tone, as the 1 hour chart shows that the technical indicators continue to head strongly higher despite being in overbought territory, whilst the price has extended far above its moving averages. In the 4 hours chart, the 100 SMA posts a mild advance above the 200 SMA, whilst the technical indicators are losing their upward strength well in positive territory, signaling some temporal exhaustion. Nevertheless, as long as the pair holds above 124.00, the upside remains favored, with scope to extend up to 125.00 on a break above the mentioned daily high.
Support levels: 124.10 123.70 123.30
Resistance levels: 124.60 125.00 125.30
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