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USD/JPY loses 102 momentarily

FXstreet.com (Chicago) – USD/JPY gave up the 102 zone momentarily touching the 101.94 bottoms and breaking the upward trendline that had started on November 26th lows.

Foreign bond investments in Japan increased while foreign investment in Japanese stocks fell. Large retailer’s sales were -0.4% vs. past 0.7%.

USD/JPY Technical Levels

Price action reveals the sentiment remains bullish as the pair maintains 6-month highs although strong bearish pressure breaks with the upward movement that had been consolidating throughout Wednesday with steep speedy lines and strong impulses. Offered at 102.02, the pair struggles to keep the zone and corrects printing higher highs and lows …read more