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USD/JPY steady around 115.50 – FXStreet

FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet highlights that USD/JPY has lost the strong upward momentum as it trades steadily around 115.50.

Key Quotes

“USD/JPY trades steady around 115.50, having also shown little progress over the last 24 hours.”

“ Short term, the pair’s 1 hour chart shows 100 SMA providing intraday support today at 115.10, but turning horizontal, which means the pair has lost the strong upward momentum seen early in the month; indicators in the same time frame hover around their midlines, giving no clear directional signs.”

“In the 4 hours chart indicators turned bearish, yet lack momentum at the time being. Nevertheless, selling yen crosses continues to be risky, and waiting to buy on dips seems a more profitable strategy these days.”

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