USD/JPY: oversold below 1hr 100 sma - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 2, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the USD/JPY pair sunk in the American session, as risk sentiment picked up following a triple digit decline in the DJIA.

    Key Quotes:

    "Crude oil prices fell towards $30.00 a barrel, and resume its roll of market leader, although China also had a part in ongoing risk-averse trading as the PBoC to intervene markets once again, by injecting 100bn Yuan.

    "The 1 hour chart for the pair shows that the price is currently a couple of pips below its 100 SMA, while the technical indicators are giving signs of downward exhaustion near oversold territory, limiting chances of a downward acceleration."
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