USD JPY slips more below the handle
2/16/2017 3:05:04 PM
According to Fx market The USD/JPY pair expanded Wednesday's refusal move from 50-day SMA important hurdle and declined more below 114.05 round figure mark.
At present trading around 113.87 area, the pair has now retreated over 98-pips from yesterday's 3 week tops hit in the result of upbeat US macro data.
A follow through retracement below 113.53 support could get expanded towards 113.27 important horizontal support, which if broken is probable to pull the pair back below 113.03 handle towards testing 112.66 horizontal support.
In the meantime on the upside, momentum back above 114.03 handle might now provoke persistence at 114.27 area above which the pair is likely to make a fresh effort towards retesting 45-day SMA important hurdle near 115.03 psychological mark.
FOREX market analysis by FxErvin.
