FXstreet.com (Barcelona) - The Dollar Yen has been climbing steadily for the last four days reaching past 92.00 in Tuesday's Asian session. If the Dollar manages to hold above 92.00, the next key ecvel to reach would be 92.75 on its way to Jan 6 high at 94.65.
According to the Mataf.net technical team, the cross is on a bullish bias, and reaching levels above 94.00 looks possible: USD JPY broke 92,00 resistance. USD JPY is in an uptrend supported by 1H exponential moving averages. The volatility rises. Bollinger bands are deviated. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD JPY. The price should find a support above 91,60 (89 pips). The uptrend should continue on 94,00 resistance (151 pips).
On the downside, the KBC technical team advances levels around 91.47 and 91.25 as key on a eventual decline below 92.00: 1st support area at 92.03 (break-up hourly), with next levels at 91.47/ .40 (daily Short Term Moving Averageâ†‘/ reaction low hourly), ahead of 91.25 (daily envelope bottom) and 90.75/ 90.52 (see above/ daily Long Term Moving
Averageâ†‘), where pause favored.