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10 Apr 2013
Forex: USD/JPY rises to test 99.80, new 4-year highs
FXstreet.com (San Francisco) - The US dollar is extending further its advance against the Japanese yen with the pair gaining around 40 pips in the latest couple of hours from 99.40 to reach the highest level since April 2009 at 99.80. Currently the USD/JPY is trading at 99.65.
With 0.67% gains on the day, the USD/JPY is trading slightly bullish according to the FXstreet.com trend index. Indicators such as CCI, Momentun and MACD are pointing bullish while the Stochastic is bearish in the 1-hour chart.
Valeria Bednarik, chief analyst at FXstreet.com, notes that the pair holds a positive bias with 100.00 at sight. Bednarik locates next resistances at 99.80, 100.00 and 100.45, while supports are seen at 99.50, 99.10 and 98.80.
With 0.67% gains on the day, the USD/JPY is trading slightly bullish according to the FXstreet.com trend index. Indicators such as CCI, Momentun and MACD are pointing bullish while the Stochastic is bearish in the 1-hour chart.
Valeria Bednarik, chief analyst at FXstreet.com, notes that the pair holds a positive bias with 100.00 at sight. Bednarik locates next resistances at 99.80, 100.00 and 100.45, while supports are seen at 99.50, 99.10 and 98.80.