FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained a recovery attempt in THE USD/JPY stalled at 101.85 where price found its 100 SMA in the hourly chart, and quickly turned south back below 101.60.



Key Quotes:



“The hourly chart shows an increasing bearish momentum coming from indicators heading south below their midlines, while the 4 hours chart shows indicators also turning south in negative territory, and price well below moving averages”.



“Immediate support still stands at 101.20 and once broken, a retest of the year low around 100.70 seems likely. Advances are seen as selling opportunities, up to 102.35 price zone”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    US Dollar Breakout Velocity Rests with Fed’s Liftoff Outlook after NFPs

  2. Forex News

    Strategy Video: China’s Financial Markets Pose More Immediate Threat than Economy

  3. Forex News

    Japanese Yen Stumbles, but is a USDJPY Rally Above ¥124 Justified?

  4. Forex News

    Daily Observations: Checking in on GBP-crosses, USD-pairs

  5. Forex News

    FX: CFTC Commitment of Traders Report - TDS

Trading Center