USD/JPY: a negative trend is emerging – FXStreet

By FXStreet FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet explained that despite trading in a tight range ever since the week started, a slightly negative trend is starting to emerge in the USD/JPY pair, which extended its decline down to 122.62 this Thursday.

Key Quotes:

“The Japanese yen has posted a discrete advance considering the sharp decline in worldwide stocks, but may play catch up after the upcoming Nikkei’s opening.

Technically, the 1 hour chart shows that the pair is slowly extending its decline below its 100 SMA for the first time since late October, whilst the technical indicators present tepid bearish slopes below their mid-lines, lacking momentum enough to confirm an imminent break lower.”
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Source:: FX Street