FXstreet.com (San Francisco) - USD/JPY finished practically unchanged on Tuesday (at 82.13), as the pair continues to trade sideways between 81.80 and 82.30, and beneath 78.6% retracement resistance at 82.65.
“In the 4 hours chart there is a slightly bearish tone, yet would be expecting downside movements to remain corrective towards 81.50 static support, from where buying interest, if reached, should resume,” says Valeria Bednarik, Chief Analyst at FXstreet.com
Last quoted at 82.10 in early Asia, USD/JPY has only retraced roughly 0.9% of the 7.2% rally from 77.10 to 82.80. If the downward momentum extends below mentioned static support, further support is noted at 81.20. Upside rallies may encounter resistance levels at 82.30, 82.60 and 82.85.
“In the 4 hours chart there is a slightly bearish tone, yet would be expecting downside movements to remain corrective towards 81.50 static support, from where buying interest, if reached, should resume,” says Valeria Bednarik, Chief Analyst at FXstreet.com
Last quoted at 82.10 in early Asia, USD/JPY has only retraced roughly 0.9% of the 7.2% rally from 77.10 to 82.80. If the downward momentum extends below mentioned static support, further support is noted at 81.20. Upside rallies may encounter resistance levels at 82.30, 82.60 and 82.85.
