FXStreet (Guatemala) – Valeria Bednarik>, chief analyst at FXStreet explained that USD/JPY is lower in the range.
Key Quotes:
“The USD/JPY pair maintains its neutral stance, having been consolidating below the 123.00 level, ever since the day started.”
“Nevertheless, the pair lacks directional strength as the 1 hour chart shows that the price is trading a few pips below a 100 SMA while the technical indicators are losing their upward strength above their mid-lines.”
“In the 4 hours chart, however, the technical indicators are turning south below their mid-lines after a limited upward correction, increasing the risk of a bearish run on a break below the 122.50 level.”
(Market News Provided by FXstreet)