23 Mar 2015
USD/JPY upside limited – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, gives the technical outlook and key levels for USD/JPY.
Key Quotes
“The USD/JPY pair trades below the 120.00 level, consolidating in the short term near the daily low established at 119.73.”
“The 1 hour chart shows that the price extended further below its moving averages that are gaining bearish slope, while the technical indicators hold in bearish territory, showing no directional strength at the time being.”
“In the 4 hours chart the technical indicators have now turned flat near oversold levels, which should at least keep the upside limited.”
“Support levels: 119.60 119.25 118.80”
“Resistance levels: 120.00 120.40 120.85”
Key Quotes
“The USD/JPY pair trades below the 120.00 level, consolidating in the short term near the daily low established at 119.73.”
“The 1 hour chart shows that the price extended further below its moving averages that are gaining bearish slope, while the technical indicators hold in bearish territory, showing no directional strength at the time being.”
“In the 4 hours chart the technical indicators have now turned flat near oversold levels, which should at least keep the upside limited.”
“Support levels: 119.60 119.25 118.80”
“Resistance levels: 120.00 120.40 120.85”