Trading Central: USD/JPY is Under Pressure -- Market...

Trading Central: USD/JPY is Under Pressure — Market Talk

RichDadphFebruary 21, 2020

/ Article / Trading Central: USD/JPY is Under Pressure — Market Talk
21 February 2020, 10:53

0852 GMT: Currently trading at JPY111.73, the U.S. Dollar is on the downside and stands below its 50-period moving average on a 30-minute chart at JPY111.97. The intraday RSI remains within its selling area between 50 and 30, and confirms the bearish bias. Further weakness is expected towards previous overlap at JPY111.55 and toward JPY111.35 in extension. A third target is set at horizontal support at JPY111.05. Only a rebound above strong horizontal resistance at JPY112.250 would invalidate this bearish view and call for an up move toward horizontal resistance at JPY112.40 and toward JPY112.60 in extension. [This piece contains the opinions of Trading Central and does not constitute personalized investment advice or form part of any invitation or inducement to buy or sell any security.

 

The author has been prohibited by Trading Central from purchasing or otherwise directly or indirectly acquiring any direct or indirect beneficial ownership of any instruments or markets for which Trading Central or its affiliates issues recommendations.

 

To read more, visit bit.ly/1MehCU9.] ([email protected])


(END) Dow Jones Newswires

February 21, 2020 03:53 ET (08:53 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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