USD/JPY conditions ahead of Key Japanese data

FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet has noted the dip in USD/JPY that went down to 101.48 before bouncing back some in the US session, again unable to close the day below its 200 DMA providing strong support at 101.60.

Key Quotes:

“The hourly chart shows 100 SMA gaining some bearish slope above current price as indicators approach their midlines still in negative territory, while the 4 hours chart shows indicators still biased lower”.

“Key data will be released in Japan today, favoring a break lower in the pair on better than expected numbers.”