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6 Jun 2014
USD/JPY breaks below Thursday's low
FXStreet (Bali) - USD/JPY is trading at 102.28, down -0.13% on the day, having posted a daily high at 102.46 and low at 102.28.
USD/JPY spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish. RSI is in neutral territory at 36.78, down from it’s last hourly close at 37.61, while ADX is trending above 30 at 37.75, up from 20.09 at the last hourly close.
Looking to a daily chart, we see that RSI is neutral at 56.40. The 200 SMA is currently at 102.58, up from 102.12 at the last period close, and climbing on the hourly USD/JPY chart. Moving in an upward trend, the exponential average closing price is 102.08.
Technically, according to Jim Langlands, Founder at FXCharts: "The dollar has drifted back below the base of the daily cloud (102.53) to test the 100-DMA at 102.33. Further support is to be seen at 102.27 (Tues’ low/38.2% of 101.43-102.90) & 102.11 (daily Tenkan). A break of this would head back below 102.00, to 101.90 (daily Kijun) and then towards the 200 DMA at 101.50." Jim recommends to "stay neutral for now and wait for the US jobs."
USD/JPY spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish. RSI is in neutral territory at 36.78, down from it’s last hourly close at 37.61, while ADX is trending above 30 at 37.75, up from 20.09 at the last hourly close.
Looking to a daily chart, we see that RSI is neutral at 56.40. The 200 SMA is currently at 102.58, up from 102.12 at the last period close, and climbing on the hourly USD/JPY chart. Moving in an upward trend, the exponential average closing price is 102.08.
Technically, according to Jim Langlands, Founder at FXCharts: "The dollar has drifted back below the base of the daily cloud (102.53) to test the 100-DMA at 102.33. Further support is to be seen at 102.27 (Tues’ low/38.2% of 101.43-102.90) & 102.11 (daily Tenkan). A break of this would head back below 102.00, to 101.90 (daily Kijun) and then towards the 200 DMA at 101.50." Jim recommends to "stay neutral for now and wait for the US jobs."