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10 Dec 2014
Yen maintains strength against most rivals - FXStreet
FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that Yen has continued maintaining strength against most rivals, with the USD/JPY pair trading below the 119 level and short term indicators supporting further declines.
Key Quotes
“The yen maintains its strength against most rivals, with the USD/JPY trading below the 119.00 level. The 1 hour chart shows price under pressure below its 200 SMA, while 100 one turns lower above the largest. Indicators in the mentioned time frame indicators are biased lower below their midlines, supporting further declines.”
“In the 4 hours chart the technical outlook is also bearish, with indicators near oversold readings and far from suggesting any kind of reversal at the time being. The downward potential will likely accelerate if 118.70 support gives up, exposing the pair to a steady decline towards 117.90, Tuesday low.”
Key Quotes
“The yen maintains its strength against most rivals, with the USD/JPY trading below the 119.00 level. The 1 hour chart shows price under pressure below its 200 SMA, while 100 one turns lower above the largest. Indicators in the mentioned time frame indicators are biased lower below their midlines, supporting further declines.”
“In the 4 hours chart the technical outlook is also bearish, with indicators near oversold readings and far from suggesting any kind of reversal at the time being. The downward potential will likely accelerate if 118.70 support gives up, exposing the pair to a steady decline towards 117.90, Tuesday low.”