USD/JPY Current price: 112.72
View Live Chart for the USD/JPY
Persistent buying interest. The USD/JPY extends its advance for fourth day in-a-row, boosted by BOJ policy makers, who down-talked the economic situation during the past Asian session. Despite reaffirming Japan's economy remains on track for recovery, officers are concerned that said sluggish emerging market demand and volatile financial markets may hurt exports and capital expenditure. The pair advanced up to 112.75, and remains nearby ahead of the US opening, supported also by the positive mood among stocks' traders. From a technical point of view, there's scope for further advances, as in the 1 hour chart, the price is above its 100 and 200 SMAs, this last now an immediate support around 112.60, while the technical indicators maintain their bullish slopes within bullish territory. In the 4 hours chart, the price is nearing its moving averages, with the 100 SMA in the 113.00 region, while the technical indicators are partially losing their upward strength, but remain well above their mid-lines, limiting chances of a downward move.
Support levels: 112.60 112.20 111.70
Resistance levels: 112.95 113.30 113.75
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