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11 Jun 2014
USD/JPY 102.50 is key for bears - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that little changed on the day for the USD/JPY but highlights key levels to watch.
Key Quotes:
“The hourly chart shows some spikes below 200 SMA were quickly reverted by buyers, albeit price was unable to recover beyond 102.45 now immediate intraday resistance”.
“Indicators in the mentioned time frame regained the upside, yet lost the upward potential and head back south approaching their midlines and suggesting bears maintain the lead in the short term”.
“The 4 hours chart shows a more neutral technical stance as per indicators hovering around their midlines. As commented on previous updates, only below 102.05, the pair can extend its slide pointing for a quick test of 101.70, while once below this last, bears will take full control and look for an approach to 101.00”.
Key Quotes:
“The hourly chart shows some spikes below 200 SMA were quickly reverted by buyers, albeit price was unable to recover beyond 102.45 now immediate intraday resistance”.
“Indicators in the mentioned time frame regained the upside, yet lost the upward potential and head back south approaching their midlines and suggesting bears maintain the lead in the short term”.
“The 4 hours chart shows a more neutral technical stance as per indicators hovering around their midlines. As commented on previous updates, only below 102.05, the pair can extend its slide pointing for a quick test of 101.70, while once below this last, bears will take full control and look for an approach to 101.00”.