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USD/JPY: bearish tone persists - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 28, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet noted that Technical conditions in USD/JPY.

    Key Quotes:

    "The pair maintains a bearish tone, after breaking below a daily ascendant trend line coming from August low, now providing a strong resistance around 121.10.

    Additionally, the 4 hours chart shows that the price is far below its 100 and 200 SMAs, quite bearish , whilst the technical indicators remain within bearish territory. The RSI indictor is the one leading the way, heading lower around 39, although a break below 120.00 is required to confirm additional falls during the upcoming days."
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