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4 Feb 2015
USD/JPY: Selling interest to follow through?- FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the Japanese yen maintains its strength.
Key Quotes:
"Albeit gains against the greenback are being limited by a strong come back in stocks during this last two sessions, albeit added 0.8% early Tuesday, following a sharp decline in the Nikkei 225."
"Despite trading near the base of its latest range, the pair has set a lower low for the week at 116.87, reflecting the increasing selling interest. The 1 hour chart shows that indicators are flat above their midlines, while 100 SMA continues to limit the upside, now around 117.70."
"In the 4 hours chart indicators hold below their midlines, losing early upward strength whilst the price develops below bearish moving averages, limiting chances of a strong advance."
Key Quotes:
"Albeit gains against the greenback are being limited by a strong come back in stocks during this last two sessions, albeit added 0.8% early Tuesday, following a sharp decline in the Nikkei 225."
"Despite trading near the base of its latest range, the pair has set a lower low for the week at 116.87, reflecting the increasing selling interest. The 1 hour chart shows that indicators are flat above their midlines, while 100 SMA continues to limit the upside, now around 117.70."
"In the 4 hours chart indicators hold below their midlines, losing early upward strength whilst the price develops below bearish moving averages, limiting chances of a strong advance."