FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that USD/JPY lost some ground, retracing further from the 103.00 area.

Key Quotes:

“The hourly chart shows price below its 100 SMA that anyway maintains a bullish slope, while momentum heads slightly lower below its midline”.

“In the 4 hours chart indicators present a clear bearish tone, yet some follow through below 102.35 is required to confirm a new leg lower, eyeing 101.95 first, and 101.60 as final target for Tuesday. Sellers should appear on approaches to 102.80 strong static resistance level”.

“Support levels: 102.35 101.95 101.60”.

“Resistance levels: 102.80 103.10 103.40”.


Filed Under:
Forex pairs in this Article » USD/JPY

comments powered by Disqus