USD/JPY Current price: 121.29
View Live Chart for the USD/JPY
Consolidating near the recent lows. The USD/JPY pair consolidates near its recent lows, achieved after BOJ's announcement to change its facilities programs. The pair is holding around its 100 DMA, but the technical stance is bearish in the longer term, as the recent failure to advance beyond 123.00 and the following slump, point for a downward continuation. Shorter term, and according to the 1 hour chart, the downside is also favored, despite the lack of momentum present, given that the price is below its moving averages, whilst the technical indicators head south around their mid-lines. In the 4 hours chart, the bearish tone is clearer, given that the price develops well below its moving averages, whilst the technical indicators maintain their bearish slopes within negative territory. Nevertheless, a clear break below 121.05 is required to confirm additional declines that can extend down to 120.30 before meeting buying interest.
Support levels: 121.05 120.60 120.30
Resistance levels: 121.70 122.20 122.66
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