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. "



comments powered by Disqus
Related Forex Analysis
  1. USD/JPY crashes below 106.50, more downside in store
    Forex News

    USD/JPY crashes below 106.50, more downside in store

  2. Trading Video: Is the S&P 500 Rebound, VIX Retreat a Trend or Interlude
    Forex News

    Trading Video: Is the S&P 500 Rebound, VIX Retreat a Trend or Interlude

  3. EUR/USD bulls wake up and drive pair above 1.2800
    Forex News

    EUR/USD bulls wake up and drive pair above 1.2800

  4. Strategy Video: Which is the Better Breakout Candidate - AUDUSD or EURJPY?
    Forex News

    Strategy Video: Which is the Better Breakout Candidate - AUDUSD or EURJPY?

  5. AUD/USD Range Endures With Clearer Cues From Candlesticks Desired
    Forex News

    AUD/USD Range Endures With Clearer Cues From Candlesticks Desired

Trading Center