9 Jul 2014
USD/JPY advances some on stocks relief - FXStreet
FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik observes that USD/JPY advanced some on stocks relief, but so far remains unable to overcome its 200 SMA in the hourly chart, flat at current levels.
Key quotes
"Indicators in the same time frame maintain a bullish tone, enough to keep the downside limited, while the 4 hours chart shows however, indicators losing upward slope well into negative territory."
"Chances of further upward movements seem limited with sellers aligned in the 101.90/102.00 price zone, while renewed selling interest below 101.60 should favor a dip towards 101.20/30 price zone."
Key quotes
"Indicators in the same time frame maintain a bullish tone, enough to keep the downside limited, while the 4 hours chart shows however, indicators losing upward slope well into negative territory."
"Chances of further upward movements seem limited with sellers aligned in the 101.90/102.00 price zone, while renewed selling interest below 101.60 should favor a dip towards 101.20/30 price zone."