16 Dec 2014
USD/JPY technicals favor the downside – FXStreet
FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, the USD/JPY pair still remains under selling pressure with technicals supporting the downside.
Key Quotes
“The USD/JPY nosedived to a fresh 4-week low of 115.55, where it bounced up to current levels albeit remains under selling pressure.”
“The 1 hour chart shows price accelerated strongly below its 100 and 200 SMAs, while indicators continue to head lower despite in oversold territory, supporting some further declines.”
“In the 4 hours chart the technical picture is also favoring the downside, with RSI heading lower at 22 and RSI also heading lower into negative territory.”
Key Quotes
“The USD/JPY nosedived to a fresh 4-week low of 115.55, where it bounced up to current levels albeit remains under selling pressure.”
“The 1 hour chart shows price accelerated strongly below its 100 and 200 SMAs, while indicators continue to head lower despite in oversold territory, supporting some further declines.”
“In the 4 hours chart the technical picture is also favoring the downside, with RSI heading lower at 22 and RSI also heading lower into negative territory.”