USD/JPY to see another leg lower if 114.02-113.67 breaks and gives up too easily – DBS Bank USDJPY Banks
ate support in the 114.02-113.67 is tested and cracks, Benjamin Wong, Strategist at DBS Bank, reports.“The MACD shows bearish divergence, and the Spearman Indicator indicates a weakened USD. A prolonged loss under the cloud support at 114.02 places the 100-day moving average of 113.67 for a potential test.”
“On the downside, 111.67 is the key level to monitor given it is the convergence of two key moving average levels.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.