USD/JPY Awaits Slide Under 107 Amid Void Of Bullish Reversal Signals
- USD/JPY Technical Strategy: Shorts Preferred
- Dark Cloud Cover Warns Of Further Weakness
- Dojis On H4Suggests Some Reluctance Near 107
USD/JPYcontinues to slide towards the 107.00 target offered in recent reports. Clearance of the nearby hurdle amid a void of bullish reversal patterns may herald a retreat to the 105.40 floor.
Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
The four hour chart highlights some hesitation from traders near the 107.00 floor. Yet with bullish patterns also lacking in intraday trade a recovery is questionable.
USD/JPY: Bulls Struggle To Regain Their Grip Near 107.00
Four Hour Chart - Created Using FXCM Marketscope 2.0,Volume Indicator Available Here
By David de Ferranti, Currency Analyst, DailyFX
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