Back
27 Feb 2015
USD/JPY: Looking constructive for above 120.00 - TDS
FXStreet (Guatemala) - USD/JPY looks technically constructive, according to analysts at TD securities.
Key Quotes:
"The early February break above trend/bull wedge consolidation resistance failed to achieve lift-off but nor did the USD drop back (the former resistance became support essentially)."
"Now, the USD is poised to close the week stealthily bullish. At or near current levels will be the strongest weekly close for the USD since the first week of January—a positive sign."
"Along with the alignment of trend strength oscillators across the short, medium and long-term studies, there is evidence here too that the USD bull trend is trying to get back on track."
"The technical “damage” was done here earlier in the month when the consolidation first broke down but we suspect the USD will pick up a little more traction above 120 and a lot more above 121.85."
Key Quotes:
"The early February break above trend/bull wedge consolidation resistance failed to achieve lift-off but nor did the USD drop back (the former resistance became support essentially)."
"Now, the USD is poised to close the week stealthily bullish. At or near current levels will be the strongest weekly close for the USD since the first week of January—a positive sign."
"Along with the alignment of trend strength oscillators across the short, medium and long-term studies, there is evidence here too that the USD bull trend is trying to get back on track."
"The technical “damage” was done here earlier in the month when the consolidation first broke down but we suspect the USD will pick up a little more traction above 120 and a lot more above 121.85."