💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

USD/JPY Downside Risk

Published 06/14/2013, 04:37 AM
Updated 07/09/2023, 06:31 AM
USD/JPY
-
USDJPY downside risk to key chart supports 92.57 & 90.87
  • As expected, a push through last week’s low to reinforce the push back below the previously probed 100-day MA and enhance the topping structure and negative outlook through mid-month.
  • We now see risk into next week to the key 92.57 April trough, which we would look to try to initially hold.
  • Overshoot risk is to another important low from Feb at 90.87.
  • Surrender here would then target the 200-day MA, currently 89.15.

WHAT CHANGES THIS?
  • Above 96.55 eases bear risks with a neutral tone needing 99.00/30, only shifting positive above 100.50USDJPY.


Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.