USD/JPY quiet below 101.90

By FXstreet.com | July 28, 2014 AAA

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”.



comments powered by Disqus
Related Forex Analysis
  1. AUD/USD Recovery Hopes Fade With Reversal Pattern Lacking Confirmation
    Forex News

    AUD/USD Recovery Hopes Fade With Reversal Pattern Lacking Confirmation

  2. USD/JPY bulls need to take a breath before a new attack at 110.00
    Forex News

    USD/JPY bulls need to take a breath before a new attack at 110.00

  3. Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low
    Forex News

    Crude Oil Recovers Ahead Of Inventories, Platinum Hits Multi-Year Low

  4. GBP/USD nervous below 1.6200, waiting for data
    Forex News

    GBP/USD nervous below 1.6200, waiting for data

  5. Dollar’s Current Bull Leg Strongest since Rally Through Crisis
    Forex News

    Dollar’s Current Bull Leg Strongest since Rally Through Crisis

Trading Center