Forex: USD/JPY back to daily lows
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USD/JPY
FXstreet.com (Córdoba) - The US dollar failed to sustain gains versus the yen, and after being rejected from a high of 82.54, it slid back to the 82.30 zone amid news that US trade gap with Japan widened in October.
USDJPY is currently trading at the 82.35 zone, virtually unchanged since opening. From a technical view, "the USDJPY is finding short term support around 82.30 still trapped in range and with no signs of breaking anytime soon", says Valeria Bednarik, chief analyst at FXstreet.com.
"In the hourly chart, price hovers between 100 and 200 SMA's, while indicators head south near their midlines, putting some pressure on greenback", Bednarik comments. "In bigger time frames however, the pair maintains a neutral stance that reflects recent range. The upside continues to be favored as long as 81.50 contains the downside".
USDJPY is currently trading at the 82.35 zone, virtually unchanged since opening. From a technical view, "the USDJPY is finding short term support around 82.30 still trapped in range and with no signs of breaking anytime soon", says Valeria Bednarik, chief analyst at FXstreet.com.
"In the hourly chart, price hovers between 100 and 200 SMA's, while indicators head south near their midlines, putting some pressure on greenback", Bednarik comments. "In bigger time frames however, the pair maintains a neutral stance that reflects recent range. The upside continues to be favored as long as 81.50 contains the downside".
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