24 Jun 2014
USD/JPY back below 102.00
FXStreet (Córdoba) - The USD/JPY peaked during the American session at 102.16 but then lost momentum and pulled back, erasing gains. Currently the pair trades at 101.95, slightly above yesterday's closing price.
The Japanese currency strengthened across the board during the last hours of Wall Street trading as stocks in the US fell and Treasuries rose.
USD/JPY technical outlook
“In the 4 hours chart, technical readings present a slightly bullish tone, albeit considering the tight range the pair presents since early June, the bias is still neutral”, says Valeria Bednarik, Chief Analyst at FXStreet. According to her in a short time frame, the hourly chart shows price around 100 and 200 SMAs and indicators turning south.
The Japanese currency strengthened across the board during the last hours of Wall Street trading as stocks in the US fell and Treasuries rose.
USD/JPY technical outlook
“In the 4 hours chart, technical readings present a slightly bullish tone, albeit considering the tight range the pair presents since early June, the bias is still neutral”, says Valeria Bednarik, Chief Analyst at FXStreet. According to her in a short time frame, the hourly chart shows price around 100 and 200 SMAs and indicators turning south.