USD/JPY: 122.50 is key support – FXStreet

By FXStreet FXStreet (Guatemala) – Valeria Bednarik>, chief analyst at FXStreet explained that USD/JPY is lower in the range.

Key Quotes:

“The USD/JPY pair maintains its neutral stance, having been consolidating below the 123.00 level, ever since the day started.”

“Nevertheless, the pair lacks directional strength as the 1 hour chart shows that the price is trading a few pips below a 100 SMA while the technical indicators are losing their upward strength above their mid-lines.”

“In the 4 hours chart, however, the technical indicators are turning south below their mid-lines after a limited upward correction, increasing the risk of a bearish run on a break below the 122.50 level.”
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Source:: FX Street