- USDJPY breaking lower still into the London close, hitting extended daily lows of 131.01 and making for a 6 point drop in the pair. Key support at 131.74 has now given way, opening losses toward late August lows of 130.41 for direction.
- Moving average studies are in a bear-mode position and price remains well below the 20-day EMA. The daily RSI is nearing oversold territory, which could slow downside progress from here on, but the overarching theme remains negative for now.
JPY: USD/JPY Extends Losses Through the London Close
Last updated at:Dec-20 16:27By: Edward Hardy
FX Bullets+ 1
- USDJPY breaking lower still into the London close, hitting extended daily lows of 131.01 and making for a 6 point drop in the pair. Key support at 131.74 has now given way, opening losses toward late August lows of 130.41 for direction.
- Moving average studies are in a bear-mode position and price remains well below the 20-day EMA. The daily RSI is nearing oversold territory, which could slow downside progress from here on, but the overarching theme remains negative for now.
