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."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    USD/JPY strongly bid near 124.20

  2. Forex News

    USD/JPY sees moderate strength, treasury yield curve flattens

  3. Forex News

    USD/JPY pares gains, clings to 124 handle

  4. Forex News

    USD/JPY: 124 pivotal level holding ahead of busy week

  5. Forex News

    USD/JPY Technical Analysis: Marking Time at 2-Month High

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!