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

    USD/JPY continuing on the bid, scores high 124.08 s0 far

  2. Forex News

    Global Economy, Central Banks Look for Further Improvement in GDP Data

  3. Forex News

    USD/JPY bids up to challenge 124 handle

  4. Forex News

    USD/JPY rises to 124.00 as Fed gives no clues about September

  5. Forex News

    USD/JPY approaches 124.00; Fed decision eyed

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!