USD/JPY remains flat in Asia - FXStreet

FXStreet (Barcelona) - Valeria Bednarik, chief analyst at FXStreet explained that between a rock and a hard place, USD/JPY edged slightly higher on the day in the US, trapped between dollar demand and stocks weakness. The pair remains flat here in Asia.

Key Quotes:

“The pair managed to advance some above the 101.60 level, and the hourly chart shows indicators heading higher above their midlines, albeit lacking clear momentum at the time being”.

“In the 4 hours chart the technical tone is also mild positive, and further gains are possible if 101.60 holds, yet a break below it exposes the pair to a slide towards 101.20 price zone”.