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USD/JPY finally corrects lower - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik stresses that USD/JPY has corrected lower and is trading below 105.00 after dropping earlier to the area of 104.86.

Key quotes

"The hourly chart shows price held well above the long term descendant trend line broken yesterday, with indicators heading strongly south but without price following, which means falls are still seen limited."

"In the 4 hours chart indicators also corrected some of the extreme overbought readings and turn back north well into positive territory, supporting the shorter term view."

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