19 Jan 2015
USD/JPY may continue downside below 116.50 – Vladimir Mihaylov
FXStreet (Barcelona) - Independent Analyst, Vladimir Mihaylov, views that the USD/JPY pair might continue downside if it breaks below 116.50 levels.
Key Quotes
“JPY continues to make some volatile moves between 118.0 and 116.00, as you may see the range is pretty wide. Indicators are still mxed and do not give a clear direction for the future. I think the pair soon will continue the downside move but for this we need to break below 116.50. As long as the pair is above 117.35 upside is more likely to continue. We have a 116.50-117.35 dead zone where sideways trade will prerist.”
Key Quotes
“JPY continues to make some volatile moves between 118.0 and 116.00, as you may see the range is pretty wide. Indicators are still mxed and do not give a clear direction for the future. I think the pair soon will continue the downside move but for this we need to break below 116.50. As long as the pair is above 117.35 upside is more likely to continue. We have a 116.50-117.35 dead zone where sideways trade will prerist.”