USD/JPY Current price: 107.02 Bearish acceleration expected below 106.60. The USD/JPY pair hovers around the 107.00 figure, having been as low as 106.71 during the Asian session. Despite the limited intraday ranges seen in the pair this week, the risk remains towards the downside, as the market does not believe anymore that the FED can raise rates this summer. Both Central Banks will have their economic policy meetings mid next week, with less than 12 hours of difference between them, which means the pair can continue trading choppily ahead of those events. In the meantime, the 1 hour chart shows that the price remains well below a bearish 100 SMA, whilst the technical indicators have turned flat within negative territory, favoring additional declines in the short term. In the 4 hours chart, the Momentum indicator hovers around its 100 level, while the RSI consolidates around 36 as the price holds far below its moving averages, lacking clear directional strength, but also favoring the downside, particularly on a break below 106.60, the immediate support. Support levels: 106.95 106.60 106.20 Resistance levels: 107.85 108.40 108.00 http://www.fxstreet.com/analysis/usd-jpy-forecast-bearish-acceleration-expected-below-106-60-201606081309
Home »
ecconomics
» USD/JPY Current price:
USD/JPY Current price:
Written By Unknown on Thursday, June 9, 2016 | 7:56:00 AM
USD/JPY Current price: 107.02 Bearish acceleration expected below 106.60. The USD/JPY pair hovers around the 107.00 figure, having been as low as 106.71 during the Asian session. Despite the limited intraday ranges seen in the pair this week, the risk remains towards the downside, as the market does not believe anymore that the FED can raise rates this summer. Both Central Banks will have their economic policy meetings mid next week, with less than 12 hours of difference between them, which means the pair can continue trading choppily ahead of those events. In the meantime, the 1 hour chart shows that the price remains well below a bearish 100 SMA, whilst the technical indicators have turned flat within negative territory, favoring additional declines in the short term. In the 4 hours chart, the Momentum indicator hovers around its 100 level, while the RSI consolidates around 36 as the price holds far below its moving averages, lacking clear directional strength, but also favoring the downside, particularly on a break below 106.60, the immediate support. Support levels: 106.95 106.60 106.20 Resistance levels: 107.85 108.40 108.00 http://www.fxstreet.com/analysis/usd-jpy-forecast-bearish-acceleration-expected-below-106-60-201606081309
