8 Aug 2013
USD/JPY pops above 96.70 after BoJ but still weak
FXstreet.com (Barcelona) - The USD/JPY foreign exchange rate is last trading at 96.72 following BoJ stays put, saying inflation expectations to be rising on the whole.
USD/JPY still in bearish trend despite oversold
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, “The USD/JPY holds to its bearish trend, accelerating below its 100 DMA this Wednesday, and maintaining a strong short term bearish tone as per the hourly chart showing indicators still heading south despite in oversold territory.”
USD/JPY key technical levels
Bednarick finds support levels at: 96.20, 95.70 and 95.40, while resistance levels at: 96.80, 97.20 and 97.50.
USD/JPY still in bearish trend despite oversold
According to Valeria Bednarik, Chief Analyst at Fxstreet.com, “The USD/JPY holds to its bearish trend, accelerating below its 100 DMA this Wednesday, and maintaining a strong short term bearish tone as per the hourly chart showing indicators still heading south despite in oversold territory.”
USD/JPY key technical levels
Bednarick finds support levels at: 96.20, 95.70 and 95.40, while resistance levels at: 96.80, 97.20 and 97.50.