FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that USD/JPY, currently trading at 102.54, is still struggling with its 100 SMA in the hourly chart.

Key quotes

"Nevertheless, the downward potential increases, with indicators turning lower an approaching their midlines in the mentioned time frame, and the 4 hours chart showing indicators heading south below their midlines."

"Static support stands in the 102.35 level, from where price also bounced last Friday after US employment figures."

"A break below should lead to a steady slide, eyeing 101.60 as probable target."

Want to learn how to invest?

Get a free 10 week email series that will teach you how to start investing.

Delivered twice a week, straight to your inbox.