26 Mar 2015
USD/JPY: next stop 118.22? – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Omkar Godbole, gives the technical outlook for USD/JPY, noting that a weak US jobs data might push the pair lower to test 118.22 levels.
Key Quotes
“On the charts, the pair has dipped below the 50-DMA and the 100-DMA levels today. Given the bearish daily RSI, the pair could test the support at 118.61 levels today. However, the hourly and the 4-hour RSI have hit the oversold zone.”
“Consequently, the pair could see a re-test of 119.00, before extending the losses.”
“A disappointing weekly jobs data in the US, coupled with a weak services PMI figure could push the pair down to 118.22 levels.”
Key Quotes
“On the charts, the pair has dipped below the 50-DMA and the 100-DMA levels today. Given the bearish daily RSI, the pair could test the support at 118.61 levels today. However, the hourly and the 4-hour RSI have hit the oversold zone.”
“Consequently, the pair could see a re-test of 119.00, before extending the losses.”
“A disappointing weekly jobs data in the US, coupled with a weak services PMI figure could push the pair down to 118.22 levels.”