FXStreet (Bali) - Technically, the downside is favored in USD/JPY, notes Valeria Bednarik, Chief Analyst at FXStreet.



Key Quotes



"The USD/JPY consolidates in a tight range having shown little progress over the last 24 hours."



"Technically, the downside is favored with price standing below moving averages and indicators turning south yet in negative territory in the 1 hour chart, but with price also barely 50 pips away from the year low."



"In the 4 hours chart the bearish tone is firmer, albeit a break below 101.05 is now required to confirm a retest of the year low in the 100.70 price zone."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Yen weakness on IMF views on Abenomics - BTMU

  2. Forex News

    USD/JPY: Bullish triangle confirmed on breakout

  3. Forex News

    USD/JPY Marks First Overbought Signal in 2015; Retail Turns Net-Short

  4. Forex News

    USD/JPY back below 123.00

  5. Forex News

    Greek crisis could help strengthen JPY and weaken GBP – FXStreet

Trading Center