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22 May 2015
USD/JPY: bulls eyeing 122 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes USD/JPY technicals support a rise to 122.00 levels on a break above 121.60.
Key Quotes
“The USD/JPY pair fell down to 120.63 on the back of BOJ monetary policy decision to keep its economic policy unchanged during the Asian session, but surged to fresh monthly highs as dollar gains strength across the board.”
“The 1 hour chart shows that the price is advancing above the 100 SMA that presents a strong bullish slope, while the technical indicators head strongly north above 100.”
“In the 4 hours chat the technical indicators bounced from their mid-lines and regained the upside, supporting a retest of the 122.00 price zone with renewed buying interest above 121.60.”
“Support levels: 121.15 120.85 120.45”
“Resistance levels: 121.60 122.10 122.50”
Key Quotes
“The USD/JPY pair fell down to 120.63 on the back of BOJ monetary policy decision to keep its economic policy unchanged during the Asian session, but surged to fresh monthly highs as dollar gains strength across the board.”
“The 1 hour chart shows that the price is advancing above the 100 SMA that presents a strong bullish slope, while the technical indicators head strongly north above 100.”
“In the 4 hours chat the technical indicators bounced from their mid-lines and regained the upside, supporting a retest of the 122.00 price zone with renewed buying interest above 121.60.”
“Support levels: 121.15 120.85 120.45”
“Resistance levels: 121.60 122.10 122.50”