USD/JPY consolidating is latest gains around 108.00 - FXStreet

FXStreet (Łódź) - According to FXStreet Chief Analyst Valeria Bednarik USD/JPY is consolidating its gains near the 108.00 region after seeing short term buying interest close to 107.80.

Key quotes

"The 1 hour chart shows 100 SMA advanced further above 200 one, both well below current price, while indicators corrected overbought readings, now aiming back higher around their midlines but not confirming an upward continuation."

"In the 4 hours chart indicators hold in positive territory but lost the bullish strength and turn slowly south supporting some limited downward correction. "