USD JPY gave up larger part of its primary gains
8/25/2017 2:15:36 PM
During Forex market, the USD/JPY pair gave up larger part of its primary gains to 109.81 level and recoiled about 22-pips from nearer to weekly tops.
The pair increased several new purchase nonetheless for a second time unsuccessful at the head of the 110.05.
The short term view for the pair is impartial, the price stays well below its 80 and 120 EMAs, both preserving their bearish slopes, while technical indicators head nowhere around their mid-lines. However, the risk stays towards the disadvantage, with another effort of breaking below 108.83 possibly resulting in a test of the year low set last April at 108.15.
FOREX market analysis by FxErvin.