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30 Dec 2014
USD/JPY makes a fresh 2-week low at 118.85 – FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, shares that the USD/JPY pair fell below the 119 handle to make a fresh 2-week low at 118.85 before rebounding back.
Key Quotes
“The USD/JPY fell to a fresh 2-week low of 118.85, following the pessimism among stocks traders. The decline began in Asia with Nikkei slide, and extended into US opening.”
“The 1 hour chart shows that indicators maintain a strong bearish slope despite in oversold territory, while price broke below 100 and 200 SMAs, stalling its decline a few pips above the 50% retracement of the latest daily decline at 118.70 the immediate support.”
“In the 4 hours chart the technical picture is also bearish according to indicators, although buying interest may surge on a test of the mentioned 118.70 support.”
Key Quotes
“The USD/JPY fell to a fresh 2-week low of 118.85, following the pessimism among stocks traders. The decline began in Asia with Nikkei slide, and extended into US opening.”
“The 1 hour chart shows that indicators maintain a strong bearish slope despite in oversold territory, while price broke below 100 and 200 SMAs, stalling its decline a few pips above the 50% retracement of the latest daily decline at 118.70 the immediate support.”
“In the 4 hours chart the technical picture is also bearish according to indicators, although buying interest may surge on a test of the mentioned 118.70 support.”