4 Mar 2015
USD/JPY: Buyers at 119.40 - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that the USD/JPY pair has extended its consolidative phase, trading below the 120.00 figure, and finding short term buying interest around 119.40.
Key Quotes:
"The 1 hour chart shows that the price fell briefly below a bullish 100 SMA, before recovering, now finding some intraday support around it, whilst the technical indicators hover directionless around their mid-lines.
"In the 4 hours chart the latest candles show long shadows both sides of the board and thin bodies, reflecting the lack of directional strength, whilst the indicators hold in neutral territory."
"The pair will likely remain range bound until Friday, when the US will release its monthly employment figure, and if something, the reaction to ECB decision will likely remain limited."
Key Quotes:
"The 1 hour chart shows that the price fell briefly below a bullish 100 SMA, before recovering, now finding some intraday support around it, whilst the technical indicators hover directionless around their mid-lines.
"In the 4 hours chart the latest candles show long shadows both sides of the board and thin bodies, reflecting the lack of directional strength, whilst the indicators hold in neutral territory."
"The pair will likely remain range bound until Friday, when the US will release its monthly employment figure, and if something, the reaction to ECB decision will likely remain limited."