30 Dec 2013
USD/JPY retraces to 105.10 after touching 5-year highs
FXstreet.com (San Francisco) - The USD/JPY is trading in consolidation mode around 105.10 right now after peaking to 105.42 in the European session, highest price since October 2008.
Currently, the USD/JPY is trading at 105.15, now 0.05% negative on the day. However, the short term perspective is slightly bullish according to the FXstreet.com trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the south while the Stochastic is neutral.
USD/JPY bias
According to FXstreet.com's chief analyst Valeria Bednarik: "Current retracement seems mostly corrective, with little room for a slide ahead, as price holds above the 105.00 figure." In fact, analyst Anna Coulling commented in the recent Forecast Poll that "with the break of 104, USD/JPY now looking to move to 108.00"
Below the 105.00 area, the USD/JPY would face support at 105.65, 104.40 and 103.80. On the upside, Immediate resistance is at 105.25, ahead of 105.40 and 105.50.
Currently, the USD/JPY is trading at 105.15, now 0.05% negative on the day. However, the short term perspective is slightly bullish according to the FXstreet.com trend index in the 15-minute chart. MACD, CCI and Momentum are pointing to the south while the Stochastic is neutral.
USD/JPY bias
According to FXstreet.com's chief analyst Valeria Bednarik: "Current retracement seems mostly corrective, with little room for a slide ahead, as price holds above the 105.00 figure." In fact, analyst Anna Coulling commented in the recent Forecast Poll that "with the break of 104, USD/JPY now looking to move to 108.00"
Below the 105.00 area, the USD/JPY would face support at 105.65, 104.40 and 103.80. On the upside, Immediate resistance is at 105.25, ahead of 105.40 and 105.50.