USD/JPY filling the sharp advances -TDS

By FXstreet.com | Updated August 25, 2014 AAA

FXStreet (Guatemala) - Analysts at TD Securities explained that while USD/JPY’s gains last week look positive from a longer-term perspective, there are signals that this is no one-way street.



Key Quotes:



“Friday’s stall a little above 104 (via a big “doji” candle) and today’s net losses so far from the Asian opening suggest the USD may be in for some short-term, at least, back and filling of the sharp gains seen from the mid 101 area since early August”.



“Short-term chart patterns are a bit more obviously negative, suggesting that the market has formed a minor peak at least at 104.25 (via an ’evening star” bear reversal on the 6-hour chart)”.



“We may see a retest of the 103 area before USDJPY can resume its move higher”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Treasury yields pull up USD/JPY pair

  2. Forex News

    USD/JPY may retest 117.18 levels – FXStreet

  3. Forex News

    USD/JPY bounces off 117.60

  4. Forex News

    USD/JPY might break above its 5 day range – DayTradeIdeas

  5. Forex News

    USD/JPY hovers around 118

Trading Center