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29 Dec 2014
USD/JPY downside limited - FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet notes that technicals indicate that the USD/JPY pair is trading well above the moving averages with indicators hovering in neutral territory, suggesting that the downside for the pair is limited.
Key Quotes
“The USD/JPY pair has been trading in a tight 40 pips range since the day started, hovering around current level for most of the European session. Despite Nikkei slide on a suspected case of Ebola in Japan, the pair remains lifeless.”
“Technically the 1 hour chart shows momentum indicator flat around 100, albeit 100 SMA continues to provide intraday support, now around 120.25.”
“In the 4 hours chart indicators present a mild negative tone in neutral territory, whilst the price develops well above moving averages, all of which suggests the downside will remain limited.”
Key Quotes
“The USD/JPY pair has been trading in a tight 40 pips range since the day started, hovering around current level for most of the European session. Despite Nikkei slide on a suspected case of Ebola in Japan, the pair remains lifeless.”
“Technically the 1 hour chart shows momentum indicator flat around 100, albeit 100 SMA continues to provide intraday support, now around 120.25.”
“In the 4 hours chart indicators present a mild negative tone in neutral territory, whilst the price develops well above moving averages, all of which suggests the downside will remain limited.”