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15 Apr 2015
USD/JPY favouring the downside – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes technicals suggest that USD/JPY might see further declines in the shorter-term, with the nearest support at 119.20 and resistance at 119.45.
Key Quotes
“The Japanese yen strengthens against its American rival, with the pair posting fresh daily lows in the 119.20 region.”
“Short term, the 1 hour chart shows that the price is developing below its moving averages, whilst the technical indicators are accelerating their decline below their mid-lines, all of which favors further declines.”
“In the 4 hours chart the technical indicators maintain a strong downward momentum as the price extends below its moving averages, supporting the shorter term view.”
“Support levels: 119.20 118.80 118.50”
“Resistance levels: 119.45 119.90 120.20”
Key Quotes
“The Japanese yen strengthens against its American rival, with the pair posting fresh daily lows in the 119.20 region.”
“Short term, the 1 hour chart shows that the price is developing below its moving averages, whilst the technical indicators are accelerating their decline below their mid-lines, all of which favors further declines.”
“In the 4 hours chart the technical indicators maintain a strong downward momentum as the price extends below its moving averages, supporting the shorter term view.”
“Support levels: 119.20 118.80 118.50”
“Resistance levels: 119.45 119.90 120.20”