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Thomson Reuters
Feb 27 - 07:24 AM
USD/JPY - As USD/JPY Bulls Struggle, A Drop To The 30-DMA More Likely
First appeared on eFXplus on Feb 27 - 05:15 AM
  • USD/JPY's downside risk grows as bulls struggled to make much headway
  • While a new 2019 peak was registered at 111.24 on Monday, 200-DMA capped
  • The 200-DMA has offered stiff resistance and remains at 111.31
  • Likelihood has grown for a relapse back below the 30-DMA, now at 110.02
  • A daily close below the 30-DMA would weaken the market structure further
  • Indian-Pakistan tensions hurt USD/JPY as risk sentiment hit nL1N20M07H

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