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USD/JPY: bulls exhausted from large reversal - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 18, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Valeria Bednarik, chief analyst at FXStreet noted that the American dollar trimmed losses against its Japanese rival after BOJ's Governor Kuroda reiterated that the Central Bank is ready to ease further if needed.

    Key Quotes:

    "Also, and despite the early risk aversion, US stocks surged on strong earnings reports, leading to an advance in the USD/JPY that anyway stalled around Friday's close.

    The pair flirted with the 109.00, but retreated from its 100 SMA in the 1 hour chart, whilst the technical indicators in the mentioned time frame have turned flat near overbought levels, indicating some short term upward exhaustion ahead of the Asian opening."
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