USD JPY Trying to hold itself on top
7/13/2017 8:56:49 AM
After posting session high near mid-113.3s, the USD/JPY pair entered over some fresh offers and turned lower for the third successive day.
The pair fell below the 113.03 handle to fresh one-week lows, although has achieved to hold above 112.71-74 horizontal support as traders now look forward to the US economic data - weekly jobless claims and PPI print, for some fresh motivation.
The corrective pullback could be expanded to 112.65 - 112.34 as the RSI is bearish and treasury yields are showing no signs of life. Though, 10-EMA is still inclined upwards plus one-month ATM option fickleness has reduced to 7.7605 from the current month high of 8.424.
FOREX market analysis by FxErvin.