TECHNICAL ANALYSIS

USD / JPY parry losses on session but sellers still in control in the short term


USD / JPY Deviates From Previous Lows 104.20-104.72

USD / JPY D1 31-07
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The slight upside boost comes as the Dollar is also seen to hold its position somewhat on the session, with EUR / USD falling from 1.1900 to 1.1850 levels currently.

For USD / JPY, there is the jawboning of Japanese decision-makers to factor into the bigger picture, but unless the pair’s downside threatens to be a bit too far and too fast, they’re unlikely to step in until we start approaching the 100.00 on the road.

So far the dollar is gaining ground on the session as we also see the AUD / USD reduce gains in a fall from 0.7225 to 0.7195 while the NZD / USD is now down 0, 3% at 0.6680 – actually hitting session lows.

Returning to the USD / JPY, the upside boost is not yet much as sellers are still keeping short-term control of the pair with the 100-hour moving average seen only at 105.08. Stay below that and sellers will continue with the pair’s more short-term bearish bias.

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