Back
14 Jan 2015
USD/JPY maintains a strong bearish momentum – FXStreet
FXStreet (Barcelona) - According to Valeria Bednarik, Chief Analyst at FXStreet, technicals suggest that USD/JPY maintains a strong bearish momentum and the possibility of the pair seeing a strong bounce ahead is very unlikely.
Key Quotes
“The USD/JPY accelerated south earlier on the day breaking below the 117.00 level, and extending its decline down to 116.06 ahead of US opening.”
“As for the USD/JPY, the technical picture in the short term shows indicators stalled in extreme oversold territory, far from suggesting a strong bounce ahead, while the price develops well below their midlines.”
“In the 4 hours chart however the pair maintains a strong bearish momentum, with market targeting now December low around 115.55.”
Key Quotes
“The USD/JPY accelerated south earlier on the day breaking below the 117.00 level, and extending its decline down to 116.06 ahead of US opening.”
“As for the USD/JPY, the technical picture in the short term shows indicators stalled in extreme oversold territory, far from suggesting a strong bounce ahead, while the price develops well below their midlines.”
“In the 4 hours chart however the pair maintains a strong bearish momentum, with market targeting now December low around 115.55.”