USD/JPY is trading lower in range in the 104.20 price zone. The pair looks increasingly bearish as the American dollar is still the weakest currency across the FX board, with the JPY appreciating despite a sour market’s mood, FXStreet’s Chief Analyst Valeria Bednarik briefs.
“Japan published the final reading of the September Leading Economic Index, which resulted at 92.5, below the 92.9 expected. The Coincident Index for the same period improved to 81.1. The US won’t release macroeconomic data for the rest of the week.”
“The USD/JPY pair is neutral-to-bearish in the near-term, as the 4-hour chart shows that it is unable to surpass a mildly bearish 20 SMA. The longer moving averages gain bearish strength above the shorter one, skewing the risk to the downside.”
“The Momentum indicator remains directionless around its midline, while the RSI indicator turned south, currently at 45, further supporting another leg lower.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.