13 Jul 2015
USD/JPY holds above key trendline and post highest close for July
FXStreet (Córdoba) - After starting with a bearish gap, USD/JPY bounced strongly to the upside and climbed toward 123.50. The pair peaked at 123.53, reaching the highest level since July 2.
During the last hours it has remained steady trading in a small range between 123.55 and 123.25, consolidating gains.
USD/UPY up for third day, rebounding from trendline
Last week, risk aversion pushed the pair to the downside. It bottomed at 120.40 on Wednesday (4-month low) but then turned to the upside. The recovery of the US dollar started after rebounding from an important bullish trendline originated at January lows.
Today the pair is about to post the highest close since June 26 supported by rising stocks and a decline in government bonds. Also USD/JPY has risen above the daily 20-SMA.
During the last hours it has remained steady trading in a small range between 123.55 and 123.25, consolidating gains.
USD/UPY up for third day, rebounding from trendline
Last week, risk aversion pushed the pair to the downside. It bottomed at 120.40 on Wednesday (4-month low) but then turned to the upside. The recovery of the US dollar started after rebounding from an important bullish trendline originated at January lows.
Today the pair is about to post the highest close since June 26 supported by rising stocks and a decline in government bonds. Also USD/JPY has risen above the daily 20-SMA.