18 Feb 2015
USD/JPY: Momentum to the upside - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the yen fell across the board as risk appetite continued to improve in the American afternoon, on rumors that Greece will reach a deal as soon as next Wednesday.
"The short term technical picture favors the upside, as the 1 hour chart shows that the price accelerated south above its 100 and 200 SMAs, with the shortest now offering the immediate dynamic intraday support at 119.05."
"The Momentum indicator in the mentioned time frame is partially losing its bullish slope but remains in positive territory, while the RSI heads strongly north around 77."
"In the 4 hours chart, the Momentum indicator maintains a strong bullish slope above 100, while the RSI heads higher around 60, supporting some further advances particularly if the price extends above 119.40, so far the daily high."
"The short term technical picture favors the upside, as the 1 hour chart shows that the price accelerated south above its 100 and 200 SMAs, with the shortest now offering the immediate dynamic intraday support at 119.05."
"The Momentum indicator in the mentioned time frame is partially losing its bullish slope but remains in positive territory, while the RSI heads strongly north around 77."
"In the 4 hours chart, the Momentum indicator maintains a strong bullish slope above 100, while the RSI heads higher around 60, supporting some further advances particularly if the price extends above 119.40, so far the daily high."