Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

USD/JPY Holds 103.50; Risk Up To 104.00 And 104.20

Published 08/29/2014, 03:12 AM
Updated 12/12/2023, 05:55 AM

USD/JPY bounce bias

  • A probe below modest support at the 103.75/70 area, but then a bounce effort ahead of the better level at 103.50 to leave upside forces intact Friday and into early September.
  • The push early this week above 104.13, the April peak, reinforced the prior surge through the 103.09/10 resistance area and favours still further upside.
  • For Friday, the bias is up towards 104.00, maybe 104.20.
  • We still see risk into early September above 104.47 for 104.85/94 next and maybe higher to the 105.48 secular high into September.

WHAT CHANGES THIS?

  • Below 103.50 eases bull risks; through 102.13 signals a neutral tone, only shifting negative below 101.50.

4 Hour USD/JPY Chart

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.