USD/JPY edging higher on strong stocks - FXStreet

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the USD/JPY edged higher on Tuesday in the US session, reaching 106.00 daily highs favored also by strong US stocks.

Key Quotes:

“The hourly chart shows price hovering around a still bearish 100 SMA while momentum heads higher above its midline, and CCI diverges to the downside, leaving a neutral short term picture”.

“In the 4 hours chart indicators head higher above their midlines, yet unless a clear price acceleration above former support around 101.60 the upside will likely remain limited, with risk to the downside increasing on a break below 101.20 immediate support”.