26 Jun 2015
USD/JPY: heading in to negative territory - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted and explained that USD/JPY fell down to 123.31 intraday, closing the day in negative territory, despite a short-lived spike triggered by US data.
Key Quotes:
"The Japanese Yen is being supported by falling equities and market's uncertainty that pushes investors towards safe-havens. Early Asia, Japan will release its latest inflation figures, expected below previous ones."
"The short term technical picture however, shows a limited bearish potential, as in the 1 hour chart, the price holds above its 100 and 200 SMAs, with the largest below the shortest and around 123.35, whilst the technical indicator stand below their mid-lines, but lack directional strength."
"In the 4 hours chart, the technical indicators are heading lower into negative territory with limited bearish slopes, but maintaining the risk towards the downside, with a break below 123.30, the immediate support, favoring a decline towards 122.45, the base of these last weeks' range."
Key Quotes:
"The Japanese Yen is being supported by falling equities and market's uncertainty that pushes investors towards safe-havens. Early Asia, Japan will release its latest inflation figures, expected below previous ones."
"The short term technical picture however, shows a limited bearish potential, as in the 1 hour chart, the price holds above its 100 and 200 SMAs, with the largest below the shortest and around 123.35, whilst the technical indicator stand below their mid-lines, but lack directional strength."
"In the 4 hours chart, the technical indicators are heading lower into negative territory with limited bearish slopes, but maintaining the risk towards the downside, with a break below 123.30, the immediate support, favoring a decline towards 122.45, the base of these last weeks' range."