Back
18 Dec 2013
USD/JPY stretches to fresh highs
FXstreet.com (Córdoba) - The USD/JPY gathered fresh strength and rose to new daily highs as jitters increase as Fed decision looms.
The USD/JPY managed to move apart its 103.00 comfort zone and rose to a high of 103.26 before finding a new layer of sellers. At time of writing, the USD/JPY is trading at the 103.20 zone, recording a 0.5% gain on the day, as all eyes turn to the Fed statement at 19:00GMT.
USD/JPY technical outlook
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that USD/JPY holds a bullish tone in short-term charts, although she highlights this is not a day to trade technically. "The 103.35 level comes as immediate resistance, and once above an approach to the 104.00 area is likely", the analyst said. "Bulls will likely give up on a price fall through 102.50 support zone".
The USD/JPY managed to move apart its 103.00 comfort zone and rose to a high of 103.26 before finding a new layer of sellers. At time of writing, the USD/JPY is trading at the 103.20 zone, recording a 0.5% gain on the day, as all eyes turn to the Fed statement at 19:00GMT.
USD/JPY technical outlook
From a technical perspective, Valeria Bednarik, chief analyst at FXstreet.com notes that USD/JPY holds a bullish tone in short-term charts, although she highlights this is not a day to trade technically. "The 103.35 level comes as immediate resistance, and once above an approach to the 104.00 area is likely", the analyst said. "Bulls will likely give up on a price fall through 102.50 support zone".