lunes, 30 de junio de 2014
Will USD/JPY come out of its range trading?
The USD/JPY stayed within a medium-term sideways trading and on Friday closed at 101.40 yen, below the 200-day moving average.
With a break below 100.70 yen, the U.S.Dollar Index (NYBOT:DXU14) will extend losses looking to go back to 99.50-99.00 yen area in the first instance, and later the 97.00-96.00 yen zone, without ruling out a bearish continuation towards more depressed front values.
Lateralization remains intact and in case of upside attempts they must be contained in the 102.50 or potentially high 104.10-104.20--where the bearish pressure will be taken up, as expected. Otherwise, we can see further recovery back to previous highs of 105.45, and even more ambitious zones in the near future.