Back
16 May 2014
USD/JPY flat at 101.50, bearish tone prevails
FXStreet (Bali) - USD/JPY remains stuck around the 101.50 handle, with the price action very limited after a small 20 pips range.
In view of Valeria Bednarik, Chief Analyst at FXStreet.com: "The bearish tone prevails in the short term, with the hourly chart showing price well below moving averages and indicators down in negative territory."
In the 4 hours char, Valeria sees "the bearish momentum is even stronger, with immediate support now around 101.20: a break below this last is required to confirm a new leg down towards 100.70, while once below this last, critical 100.00 comes to sight."
In view of Valeria Bednarik, Chief Analyst at FXStreet.com: "The bearish tone prevails in the short term, with the hourly chart showing price well below moving averages and indicators down in negative territory."
In the 4 hours char, Valeria sees "the bearish momentum is even stronger, with immediate support now around 101.20: a break below this last is required to confirm a new leg down towards 100.70, while once below this last, critical 100.00 comes to sight."