USD/JPY bearish bias alive – FXStreet

FXStreet (Barcelona) - Valeria Bednarik, Chief Analyst at FXStreet, notes that the USD/JPY bearish bias is still alive as indicators head lower on the technical charts.

Key Quotes

“Yen advanced against the greenback, dragging USD/JPY to a daily low of 117.23, from where the pair bounced during the European morning. Still subdued, the 1 hour chart shows price now below 200 SMA while indicators aim higher below their midlines, limiting the upside. In the 4 hours chart indicators head lower having been rejected from their midlines, which maintains the bearish bias alive.”