• 546 days Will The ECB Continue To Hike Rates?
  • 546 days Forbes: Aramco Remains Largest Company In The Middle East
  • 548 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 948 days Could Crypto Overtake Traditional Investment?
  • 952 days Americans Still Quitting Jobs At Record Pace
  • 954 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 957 days Is The Dollar Too Strong?
  • 958 days Big Tech Disappoints Investors on Earnings Calls
  • 959 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 960 days China Is Quietly Trying To Distance Itself From Russia
  • 961 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 965 days Crypto Investors Won Big In 2021
  • 965 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 966 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 968 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 968 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 972 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 972 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 973 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 975 days Are NFTs About To Take Over Gaming?
  1. Home
  2. Markets
  3. Other

USD/JPY: Sliding

USD/JPY has moved below its recent low at 94.99 (07/06/2013 low). The short-term technical configuration remains negative as long as prices remain below the resistance at 97.02 (12/06/2013 high). An initial resistance lies at 94.92 (intraday high). Supports can be found at 93.58 (38.2% retracement) and 92.57.

The medium-term overextended nature of this market calls for some caution. Even though it has not been confirmed by EUR/JPY and GBP/JPY, the move below the support at 95.80 is a medium-term bearish sign. We would however not be aggressively bearish given the short-term oversold conditions and the proximity of key supports in EUR/JPY and GBP/JPY.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment