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13 Jun 2013
USD/JPY recovery capped at 94.80
FXstreet.com (New York) - The USD/JPY pair stalled at the 94.80 level, thereby returning lower after the recovery stalled during US trading.
USD/JPY upside stymied
Briefing the technicals, the pair is now incurring a sizable loss of -1.89% in these moments after returning to 94.22 during US trading. The next supportive structure lies at the 093.93, then 93.73.
USD/JPY offers little hope of positive rebound
According to the Technical Analyst Team at ICN.com, “The USD/JPY foreign exchange dropped sharply yesterday and failed to stabilize above 95.50, as stability below supports the extension of bearishness. Moreover, the linear regression indicators support our outlook and momentum indicators do not offer any positive signals despite approaching oversold areas.”
USD/JPY upside stymied
Briefing the technicals, the pair is now incurring a sizable loss of -1.89% in these moments after returning to 94.22 during US trading. The next supportive structure lies at the 093.93, then 93.73.
USD/JPY offers little hope of positive rebound
According to the Technical Analyst Team at ICN.com, “The USD/JPY foreign exchange dropped sharply yesterday and failed to stabilize above 95.50, as stability below supports the extension of bearishness. Moreover, the linear regression indicators support our outlook and momentum indicators do not offer any positive signals despite approaching oversold areas.”