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8 Sep 2014
USD/JPY keeps finding buyers - FXStreet
FXStreet (Bali) - Bulls in USD/JPY remain in control despite the current lack of short term strength, notes Valeria Bednarik, Chief Analyst at FXStreet.
Key Quotes
"The USD/JPY found again buyers at the 104.70 level on Friday, from where it bounced back to establish above the 105.00 figure where it stands."
"The hourly chart shows indicators aiming slightly higher still in negative territory, albeit price holds above a bullish 100 SMA now around 105.00 immediate short term support."
"In the 4 hours chart indicators stand flat above well above their midlines, while moving averages head higher below current price, all of which suggest bulls remain in control despite the current lack of short term strength."
Key Quotes
"The USD/JPY found again buyers at the 104.70 level on Friday, from where it bounced back to establish above the 105.00 figure where it stands."
"The hourly chart shows indicators aiming slightly higher still in negative territory, albeit price holds above a bullish 100 SMA now around 105.00 immediate short term support."
"In the 4 hours chart indicators stand flat above well above their midlines, while moving averages head higher below current price, all of which suggest bulls remain in control despite the current lack of short term strength."