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USD/JPY’s jump’s short-lived; under 101.40

FXstreet.com (Chicago) – USD/JPY attempted to reach the 101.40 front unsuccessfully extending the bearish channel that started at the closing of WS.

Perspective

According to Valeria Bednarik, FXstreet.com Chief Analyst, “the USD/JPY breaks lower reaching fresh weekly lows as US session fades, nearing the 100 SMA in the hourly chart currently at 101.15 and immediate support. Indicators in the same time frame gain bearish momentum below their midlines as 4 hours chart also shows an increasing bearish potential that suggests a test of 100.45 former high for the upcoming hours if the 101.00 level gives up.” The Nikkei opened 0.65% down.

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