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”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    USD/JPY wavers around 123

  2. Forex News

    Dollar Rally Extends And Breaks Key Levels Along the Way

  3. Forex News

    US dollar upsurge pauses in Asia, a data-light EUR calendar

  4. Forex News

    USD/JPY Technical Analysis: Prices Hit Highest Since 2007

  5. Forex News

    Japan's Suga: FX volatility undesirable, Yen's pace of depreciation within limits

Trading Center