Techncial outlook for USD/JPY - FXStreet

Valeria Bednarik, chief analyst at FXStreet offered a technical outlook for USD/JPY.

Key Quotes:

"In the 1 hour chart, the 100 and 200 SMAs have extended their declines, well above the current level, whilst the technical indicators have turned modestly lower around their mid-lines."

"In the 4 hours chart, the price is well below its moving averages, whilst the technical indicators have barely corrected oversold readings, holding within negative territory. 100.60 stands for the 50% retracement of the 75.56/125.85 yearly rally between October 2011 and June 2015, a line in the sand for the pair, given that steady losses below it should see the decline extending further in the longer run."

"Support levels: 100.95 100.60 100.25 ... Resistance levels: 101.40 101.85 102.20."