5 Jan 2016
USD/JPY: bearish bias still favored for Asia - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the USD/JPY pair corrected higher at the beginning of the day, advancing up to the 119.60 region before selling interest sent it back south.
Key Quotes:
"Although the dollar traded broadly higher, the pair closed in the red for a second day in-a-row, having, however, held above Monday's high of 118.69 the immediate support.
Heading into the Asian session around the 119.00 level, the bearish bias is still favored as market players are quite sensitive and any spark of risk aversion will automatically send them towards the JPY."
Key Quotes:
"Although the dollar traded broadly higher, the pair closed in the red for a second day in-a-row, having, however, held above Monday's high of 118.69 the immediate support.
Heading into the Asian session around the 119.00 level, the bearish bias is still favored as market players are quite sensitive and any spark of risk aversion will automatically send them towards the JPY."