USD/JPY: Indicators Turning Lower, Bearish Risk - FXStreet
20 April 2016, 06:32
0
74
USD/JPY: Indicators Turning Lower, Bearish Risk - FXStreet
Valeria Bednarik, chief analyst at FXStreet noted the technicals surrounding USD/JPY.
Key Quotes:
"Short term, the 1 hour chart shows that the price has bounced from a
horizontal 100 SMA, whilst the technical indicators have lost
directional strength around their mid-lines, following a strong
correction from overbought levels and erasing the preceding bearish
divergence."
"In the 4 hours chart, the technical indicators have turned slightly
lower within positive territory, whilst the price remains well below a
bearish 100 SMA, currently around 110.00, indicating that the downward
risk is still present."
