The US currency finished the last week losses on all fronts against the background of weak economic reports. As it became known on Friday, retail sales in the US were unchanged last month, while producer prices fell, triggering fears about economic growth in the 3rd quarter.
The yen strengthened against the backdrop of risk aversion. Bears perehvalili initiative and reduced the price to the level of 101.40. Resistance is located at 101.40, support - at 100.40.
MACD has decreased, which indicates a strengthening of the positions of sellers. RSI is near oversold zone.
The tool rebounded from the 100 EMA, which is near the resistance at 102.50 4-hour chart. Price fell and returned below the 50 EMA. The moving averages are pointing downwards.
Forecast USD / JPY
Loss level 101.40 will indicate the start of a further period of downward movement. The breakdown of this mark may lead to a reduction in the support area of 100.40.
Fort Financial Services