USD/JPY down to fresh lows - FXStreet

FXStreet (Łódź) - FXStreet Chief Analyst Valeria Bednarik notes that the USD/JPY dropped to fresh lows below the 102.00 mark, as JPY is gaining ground against its rivals.

Key quotes

"The hourly chart shows a strong bearish momentum, with price accelerating below its 100 SMA, which favors some downward extension."

"In the 4 hours chart the technical picture is also bearish, with indicators quickly approaching their midlines: a break below 101.60 exposes the lows around 101.20 in the short term, with risk of a test of the year low in the 100.70 price zone."