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USD/JPY: indicators turning lower, bearish risk - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    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."
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