FXStreet (Buenos Aires) - US session opened and is doing no good to recent dollar strength, with the USD/JPY at fresh 4-day lows below the 101.60 mark. DJIA is already 100 points lower –its earning season which promise much action will came from that front these days- while yields are also down on the day, 4.5bp. Yen has been outperforming since early Asian opening, taking the lead along with Aussie against the greenback.



Technically, the pair maintains a strong bearish tone according to Valeria Bednarik, FXStreet chief analyst, as “the hourly chart shows price extending below 200 SMA, with momentum heading south in negative territory, supporting a downward continuation” according to her forecast, “yet if pressure remains and US stocks extend their decline, the slide can quickly extend down to 101.20 price zone” while next support comes in the 100.70 area, this year lows. 101.60 has become now immediate resistance, followed then by 102.00 figure.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/USD eyes 1.0960 on EMU CPI

  2. Forex News

    USD/JPY likely to range-bound near-term – BTMU

  3. Forex News

    EUR/USD wipes-out gains, back near 1.0930

  4. Forex News

    US Dollar May Rise on Rate Hike Bets, Euro to Look Past CPI Data

  5. Forex News

    EUR/USD swings back higher to 1.0970

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!