USD/JPY: awaits Asia as next catalyst – FXStreet

By FXStreet FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet explained that USD/JPY is still lifeless around 120.00 The USD/JPY pair has been under very limited pressure this Monday, trading near its daily low but unchanged daily basis.

Key Quotes:

“A strong advance in Asian share markets was not enough to boost the pair during the first half of the day, and is unlikely some action will take place until next Tuesday’s Asian opening, given that is a bank holiday in the US.”

“Technically, there has been no additional progress, with the pair still glued to the 120.00 region, although the short term picture is slightly negative, given that the price is holding a few pips above its 100 and 200 SMAs, whilst the technical indicators have turned south right below their mid-lines.”

“In the 4 hours chart, the price continues moving back and forth around its 100 and 200 SMAs that anyway remain flat, whilst the technical indicators have turned slightly lower around their mid-lines.”
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Source:: FX Street