USD/JPY Range Remains In Play As Doji Suggests Hesitation Persists
- USD/JPY Technical Strategy: Sidelines Preferred
- Doji highlights indecision near 102.00 handle
- Range between 101.20 and 102.77 remains in play
USD/JPY’s consolidation around the 102.00 handle has left little in the way of candlestick formations to signal which way the pair could eventually push. Signs of hesitation are made further evident by the Doji formation on the daily.
Daily Chart - Created Using FXCM Marketscope 2.0
Following a push to 102.10 a Dark Cloud Coverformation has delivered extended declines for USD/JPY. However, with support resting nearby at 101.65 further falls may be limited.
USD/JPY: Awaiting Guidance As Range Persists
Four Hour Chart - Created Using FXCM Marketscope 2.0
By David de Ferranti, Currency Analyst, DailyFX
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