USD/JPY: bearish tone persists – FXStreet

By FXStreet FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet noted that Technical conditions in USD/JPY.

Key Quotes:

“The pair maintains a bearish tone, after breaking below a daily ascendant trend line coming from August low, now providing a strong resistance around 121.10.

Additionally, the 4 hours chart shows that the price is far below its 100 and 200 SMAs, quite bearish , whilst the technical indicators remain within bearish territory. The RSI indictor is the one leading the way, heading lower around 39, although a break below 120.00 is required to confirm additional falls during the upcoming days.”
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Source:: FX Street