USD/JPY stable over 114,00, limited by 114,15

FXStreet — The currency pair USD/JPY maintained its gains once again over the round mark of 114,00 expand. The U.S. Currency climbed first, as a result of rising US yields and the recovery in US equity markets to 114,15 could not hold the level, however, and fell back on 114,00.

The Dow Jones lit briefly on the Turbo and recovered from its lows, while the S&P was quoted 500 Index last 0.5 percent in the Plus. The yield on 10-year US government bonds initially fell to 2,369 percent and is now down to 2.39 per cent.

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Chart analysis

The currency pair is currently trading at 114,00, and thus on a daily basis, easily in the Plus. The price range mid-week, similar to yesterday’s. Today, the US dollar marked new month highs — but the overall tone remains strongly bullish.

The USD/JPY is likely to be on the road in the direction of the February and March highs, which is 115.00/50. A consolidation, it should provide a new impetus to the currency catapult pair towards new year highs.

«The chart-technical Situation of the currency pair remains bullish. Lend weight to this scenario, the as prices rising 100 — and 200SMAs. On indicators based on the RSI accelerates in the positive range again, according to the North“, said Valeria Bednarik, chief market analyst at FXStreet.

You also stated that the Fibonacci would have to level at 114,50 skipped, before the currency pair bull. «But this should not happen until the US consumer prices, which will be released on Friday».

** FXStreet News Editorial, FXStreet**

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