USD/JPY: indicators turning lower, bearish risk - FXStreet

Valeria Bednarik, chief analyst at FXStreet noted the technicals surrounding USD/JPY.

Key Quotes:

"Short term, the 1 hour chart shows that the price has bounced from a horizontal 100 SMA, whilst the technical indicators have lost directional strength around their mid-lines, following a strong correction from overbought levels and erasing the preceding bearish divergence."

"In the 4 hours chart, the technical indicators have turned slightly lower within positive territory, whilst the price remains well below a bearish 100 SMA, currently around 110.00, indicating that the downward risk is still present."