9 Dec 2013
USD/JPY sees heavy demand in early trade
FXstreet.com (Bali) - The Japanese Yen is being smashed in early trading, having opened with a down-gap and extending on its losses during thin volume.
USD/JPY has expanded its bullish momentum on the back of higher-than-expected NFP numbers, surging from an opening of 102.88 all the way up to 103.20, getting now in close contact with last week's high at 103.35.
From a technical standpoint, with ichimoku indicators across all time-frames pointing to higher quotes, there seems to be little evidence suggesting that the USD/JPY uptrend will find much opposition to retest May 2013 high at 103.65.
USD/JPY has expanded its bullish momentum on the back of higher-than-expected NFP numbers, surging from an opening of 102.88 all the way up to 103.20, getting now in close contact with last week's high at 103.35.
From a technical standpoint, with ichimoku indicators across all time-frames pointing to higher quotes, there seems to be little evidence suggesting that the USD/JPY uptrend will find much opposition to retest May 2013 high at 103.65.