6 Apr 2015
USD/JPY upside bias fading- Vladimir Mihaylov
FXStreet (Barcelona) - USD/JPY upside bias is seen fading as the pair consolidates around 119.00 levels, notes Independent Analyst, Vladimir Mihaylov.
Key Quotes
“JPY is still in a consolidation around 119.00 after making second fail at 122.00 and forming a double top.”
“Bulls still haven't gave up but hopes for further upside seem to fade away.”
“First support is 118.20 followed by 117.70, below this bears' pressure will increase.”
“Upside will be restored once above 120.40.”
Key Quotes
“JPY is still in a consolidation around 119.00 after making second fail at 122.00 and forming a double top.”
“Bulls still haven't gave up but hopes for further upside seem to fade away.”
“First support is 118.20 followed by 117.70, below this bears' pressure will increase.”
“Upside will be restored once above 120.40.”