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. "



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    USD/JPY: full load down and neutral before breakouts

  2. Forex News

    FX Reversals: USDJPY Attempts Breakout

  3. Forex News

    USD/JPY keeps the neutral bias near term – Westpac

  4. Forex News

    USD/JPY: Pressuring into key fib resistance

  5. Forex News

    Pound May Rise as 2Q UK GDP Data Boosts BOE Rate Hike Bets

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!