USD/JPY trading at 101.40 - FXStreet

By FXstreet.com | June 27, 2014 AAA

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik notes that USD/JPY breached below its 200 DMA first time since the beginning of Abenomics back in October last year.



Key quotes



"USD/JPY is trading right below it this Friday and with the hourly chart showing 100 and 200 SMAs well above current price and gaining bearish slope, as indicators stand in negative territory."



"Former support around 101.50/60 now stands as immediate resistance, with a break below 101.20 opening doors for a quick test of the 100.70 price zone, this year lows."



"In the 4 hours chart the outlook is also bearish albeit indicators show no strength at the time being. "



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