USD/JPY: Neutral to bearish — 110,00 in sight?

FXStreet — The USD/JPY traded recently at 111,29 and to 0.04 percent in the Minus after the High and low price of the last 24 trading hours at 111,48 or 111,16 was marked.

The USD/JPY moved to the week prelude mostly sideways in view of a rather thin market. The reason for this is the holidays in the United Kingdom and the United States of America. The overall sound is intact, and the markets will look this week for Clues that confirm that the US economy is on the way to the next base rate increase. In Japan today, the retail sales and labour market figures.

USD/JPY levels

Meanwhile, the market sentiment remains in the USD/JPY neutral to bearish, as long as the listing is at the 50% Fibonacci Retracement of the last upward impluses caught, said Valeria Bednarik, chief market analyst at FXStreet.

USD/JPY 4-hour chart

The USD/JPY is developing below the moving averages in the 4-hours chart, the technical indicators in the same Chart run in the negative range,“ said Bednarik. A positive pull direction, it is necessary to recover the currency pair over 111,60. To strong selling interest, it is likely to meet then, around 112,00. «With a fraction of the 110,85, threaten the US dollar’s losses in the direction of 110,00».

** FXStreet News Editorial, FXStreet**

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