USD/JPY: a clear bearish bias – FXStreet

By FXStreet Valeria Bednarik, chief analyst at FXStreet explained that the USD/JPY pair traded as low as 114.20 this Tuesday, it lowest since November 2014.

Key Quotes:

“With the Japanese Yen higher amid increasing fears of a global economic slowdown triggering demand for safe-haven assets.”

“The pair later attempt to recover some ground, as risk sentiment eased early Europe, but failed to hold above the 115.00 level and resumed its decline on poor dollar’s performance.”

“The pair maintains a clear bearish bias both short and long term, particularly as this last break has left price below the 115.80/116.20 region, where strong bounces were seen all through 2015.”
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Source:: FX Street