13 Feb 2014
USD/JPY hovering around 102.50
FXStreet (Córdoba) - The USD/JPY remains steady, trading around 102.50 as the Nikkei 225 opened in negative. It remains moving in ranges between 102.00 and 102.65/70, ahead of what is expected to be a calm Asian session. At the moment of trading the Nikkei 225 is falling 0.38% while the USD/JPY trades at 102.45.
USD/JPY technical outlook
According to Valeria Bednarik, Chief Analyst at FXStreet the pair does not show much intention of leaving the current trading range. “The hourly chart shows a slightly positive tone amid price bouncing from its 100 SMA as indicators head higher around their midlines, thus lacking strength”.
The 4-hours charts shows a neutral technical outlook, notes Bednarik: “indicators hovering around their midlines and moving averages still above current price, suggesting chances are still on the downside towards 101.65.”
USD/JPY technical outlook
According to Valeria Bednarik, Chief Analyst at FXStreet the pair does not show much intention of leaving the current trading range. “The hourly chart shows a slightly positive tone amid price bouncing from its 100 SMA as indicators head higher around their midlines, thus lacking strength”.
The 4-hours charts shows a neutral technical outlook, notes Bednarik: “indicators hovering around their midlines and moving averages still above current price, suggesting chances are still on the downside towards 101.65.”