Forex: USD/JPY falls to daily lows at 78.15
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USD/JPY
FXstreet.com (San Francisco) - The US Dollar has extended losses against the Japanese Yen below 78.20/40 range and after falling around 15 pips in the latest hours, the pair has traded at intra-day lows at 78.15. Currently the pair is moving at 78.19, 0.20% below opening price action.
From a technical view, "The USDJPY consolidates in between 100 and 200 SMA's, holding a pretty neutral stance in the hourly chart, with indicators flat right below their midlines", says Valeria Bednarik chief analyst at FXstreet.com. "The overall market sentiment continues to favor the downside although dollar demand at the time being is limiting slides in the pair".
"77.90 is the key support to follow for the upcoming sessions, as once below, a retest of 77.10/30 area seems likely", Bednarik adds.
From a technical view, "The USDJPY consolidates in between 100 and 200 SMA's, holding a pretty neutral stance in the hourly chart, with indicators flat right below their midlines", says Valeria Bednarik chief analyst at FXstreet.com. "The overall market sentiment continues to favor the downside although dollar demand at the time being is limiting slides in the pair".
"77.90 is the key support to follow for the upcoming sessions, as once below, a retest of 77.10/30 area seems likely", Bednarik adds.
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