USD/JPY posts higher high for the year at 109.45 - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik remarks that USD/JPY reached a higher yearly high at 109.45 at the daily opening.

Key quotes

"Current decline looking just as profit taking."

"The 1 hour chart shows indicators turning higher around their midlines, with 100 and 200 SMAs still heading higher well below current price."

"In the 4 hours chart indicators corrected extreme overbought readings and head back north at the time being, supporting the shorter term view."