Wednesday, December 19, 2012

USD/JPY peaks a new high at 84.43


USD/JPY peaks a new high at 84.43


USD/JPY 19 December 2012Bullish sentiments and expectations in USD/JPY pair lifted the price to a new high at 84.43, which is the highest level since April, 2012. After a weekend's gap the exchange rate slipped to the weekly R1 at 83.85, however, without closing a gap, reversed and increased further. The price shows significant expectations to receive a positive decision from the Bank of Japan on the monetary easing programme, therefore an actual decision, specially if it does not match the expectations, might bring a notable correction. The RSI has a value of 72 and the index stays around this level while the price gradually steps up, creating a divergence. Read more