USD/JPY sees downside risks below 122.45 – FXStreet

FXStreet (Barcelona) – USD/JPY technicals maintain their downside strength, with risks for the pair tilted to the downside especially on a break below 122.45, according to Valeria Bednarik, Chief Analyst at FXStreet.

Key Quotes

“As for the USD/JPY technical picture, the 1 hour chart shows that the latest price recovery stalled well below the 100 and 200 SMAs, whilst the Momentum indicator is losing its upward strength after crossing above the 100 level, and the RSI indicator maintains its bearish slope around 41.”

“In the 4 hours chart, the price was unable to advance above its 200 SMA, whilst the technical indicators maintain their bearish strength in negative territory, maintaining the risk towards the downside particularly on a break below 122.45, the immediate support.”

“Support levels: 122.45 122.00 121.60”

“Resistance levels: 123.30 123.75 124.10”

USD/JPY technicals maintain their downside strength, with risks for the pair tilted to the downside especially on a break below 122.45, according to Valeria Bednarik, Chief Analyst at FXStreet.

(Market News Provided by FXstreet)