USD/JPY trades slightly lower alongside stocks - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik notes that USD/JPY has been declining on Monday with US and European stocks sliding as well.

Key quotes

"Technically, the 1 hour chart shows indicators heading south below their midlines, while 100 SMA maintains a strong bullish slope in the 107.50/60 area, acting as immediate support."

"In the 4 hours chart indicators turned south but remain above their midlines, while price struggles with both 100 and 200 SMAs around current price, giving no much directional clues."