FXStreet (Córdoba) - The USD/JPY moved to the upside during most of the US session but it was unable to break above 101.90. Price action remained limited during all day, moving in a range of less than 20 pips, the smallest in two weeks. During the Asian session bottomed at 101.73 and then peaked at 101.89.



USD/JPY technical outlook



“In the 4 hours chart indicators stand in positive territory but turning lower, while moving averages maintain a bearish slope albeit below current price”, says Valeria Bednarik, Chief Analyst at FXStreet.



Risk to the downside will likely increase on a break below 101.60 notes Bednarik, but warns that “bulls may take their chances on an advance beyond the 102.00 mark”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    USD/JPY sees moderate strength, treasury yield curve flattens

  2. Forex News

    USD/JPY pares gains, clings to 124 handle

  3. Forex News

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

  4. Forex News

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

  5. Investing

    USD/JPY: August 2015 Forecast

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!