Yen to Crawl Up to 79.00

Yen has moved up to grab 79 points ahead of the opening session of Tokyo, maintaining a slim gain of the signal, and stay on EMA-55, was last seen at 78.90.

Valeria Bednarik noted a range of support at 78.80, 78.50 and 78.30, while the range of resistance at 79.10, 79.40 and 79.75. She commented that the movement of graphics per 4 hours, is also bullish technical signals with several indicators that are in the positive zone and above the MA movement, supporting the continued upward movement towards the 80 for the next few sessions.

Yen Stable Under EMA 55

USD / JPY held steady near 78.80 area on the Asia-Pacific trade, which operates in a very tight range around 10 pips below the 55 EMA (79.80) after rising sharply on Tuesday night.

Valeria Bednarik, FXstreet.com Chief Analyst commented that the 4 hour charts, bullish momentum remains intact, rise to support the greenback, with 79.10 and 79.40 as resistance to scrutiny. To the contrary, she identified the level of support lies at 78.70, 78.50 and 78.30.

see : Disclaimer

Yen Rises Due to Strong U.S. Retail Sales Data

USD / JPY crept higher associated strong U.S. retail sales in July, which has prompted optimism in the U.S. economy and the improvement in risk appetite, said Kengo Suzuki, forex strategist at Mizuho Securities in Tokyo.

He said that the resistance to be around 79.00 yen, where the 'exporters to sell can be seen, and also at 79.14. "The yen seems to aim for the target 79," he said, citing the range 78.60 to 79.10. Yen last move near 78.86 yesterday.


see : Disclaimer