USD/JPY: Near term risks to the downside - FXStreet

FXStreet (Bali) - The near term risk in USD/JPY remains to the downside, notes Valeria Bednarik, Chief Analyst at FXStreet.

Key Quotes

"The USD/JPY posted a low of 101.62 before bouncing back to its comfort zone right below 102.00 on stocks recoveries."

"Little changed from previous updates except from a lower low, the hourly chart shows price below moving averages, both flat around 101.90 and indicators losing upward strength below their midlines, which keeps the risk to the downside."

"In the 4 hours chart indicators advance from oversold levels but remain in negative territory, while price stands below moving averages."