Forex: USD/JPY at almost 9-month highs above 83.30

By
A A A
Share |

FXstreet.com (Barcelona) - With the Nikkei printing new 8-month highs above the 9700 point mark, up so far +1.16% for the day at 9692, following the announcement of the Fed's new monetary policy stimulus, and all hopes placed at the candidate Abe victory in the presidential elections of Japan on Sunday, the USD/JPY is trading at 83.37, around new highs of almost last 9 months.

Supported by the recent USD rally across the board, the weakness of the Yen increases and exceeds the USD/JPY at 83.40 at the time of writing, being the weakest currency of all the majors in the last few days, about -1% less than the following weaker one. In daily readings, RSI 14 shows a level of 74.29, with negative divergence from its previous peak in November at 82.85.

Immediate resistance to the upside for USD/JPY appears at recent session highs and almost last nine months 83.43, followed by Feb 16 2011 highs at 83.98, and March 15/year 2012 highs at 84.18. To the downside, the nearest support shows at yesterday's highs 83.29, followed by Friday's highs at 82.83, and November 30 highs at 82.75.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

Referenced Stocks:

FXstreet.com

FXstreet.com

More from FXstreet.com:

Related Videos

Stocks

Referenced

Most Active by Volume

89,970,926
  • $16.15 ▲ 0.12%
77,131,582
  • $58.94 ▼ 1.31%
67,336,935
  • $26.56 ▲ 1.68%
48,814,124
  • $86.20 ▲ 0.02%
47,526,126
  • $23.21 ▲ 0.78%
44,660,424
  • $23.91 ▲ 6.36%
38,799,699
  • $4.289 ▲ 4.36%
36,199,890
  • $40.01 ▼ 0.97%
As of 4/17/2014, 04:07 PM