USD/JPY presenting a bearish tone in the short term - FXStreet

By | Updated July 30, 2014 AAA

FXStreet (Łódź) - As FXStreet Chief Analyst Valeria Bednarik points out, the USD/JPY moves back and forth around 102.00, presenting a bearish tone in the short term, as price develops below moving averages and indicators stand in negative territory, with momentum presenting a bearish slope.

Key quotes

"In the 4 hours chart technical readings continue hovering around their midlines."

"Immediate support stands around 101.65, and a break below it is required to confirm a downward continuation towards 101.20/30 price zone."

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