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13 Apr 2015
USD/JPY: Declines to 119 coming up? - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted the conditions surrounding the Yen in the US shift.
Key Quotes:
"The USD/JPY pair reached a fresh 4-week high of 120.85, before turning south, sinking to a daily low of 119.70 after Abe's advisor comments. The pair however, managed to regain the 120.00 figure quite fast afterwards, but was unable to attract buyers during the American session, ending the day around the critical figure."
"Technically the 1 hour chart shows that the price stands below its 100 SMA, whilst the technical indicators maintain their strong bearish slopes well into negative territory, keeping the risk towards the downside."
"In the 4 hours chart the price is back hovering around its moving averages that lack directional strength, whilst the technical indicators have crossed their mid-lines to the downside and continue to head lower, supporting the shorter term view. A downward acceleration below the mentioned daily low should favor additional declines towards the 119.00 region."
Key Quotes:
"The USD/JPY pair reached a fresh 4-week high of 120.85, before turning south, sinking to a daily low of 119.70 after Abe's advisor comments. The pair however, managed to regain the 120.00 figure quite fast afterwards, but was unable to attract buyers during the American session, ending the day around the critical figure."
"Technically the 1 hour chart shows that the price stands below its 100 SMA, whilst the technical indicators maintain their strong bearish slopes well into negative territory, keeping the risk towards the downside."
"In the 4 hours chart the price is back hovering around its moving averages that lack directional strength, whilst the technical indicators have crossed their mid-lines to the downside and continue to head lower, supporting the shorter term view. A downward acceleration below the mentioned daily low should favor additional declines towards the 119.00 region."