The USD/JPY pair consolidates Monday’s losses in the 103.40 price zone, as the market’s sentiment remains sour. Bears are set to pressure the 103.15 support, Valeria Bednarik, Chief Analyst at FXStreet, reports. Key quotes “Investors are still trying to digest the news that a new coronavirus strain could be spreading in Europe after the UK announced it discovered it back in September. Given it’s highly contagious, further lockdowns and travel bans are likely, which means another delay in an economic comeback.” “The 4-hour chart shows that the price is barely holding above a flat 20 SMA, while below the larger ones, which maintain their bearish slopes. The Momentum indicator is crossing its midline into negative levels with limited strength, while the RSI indicator holds directionless around 47.” “The USD/JPY pair will likely accelerate its decline on a break below 103.15, the immediate support level.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UMA goes ballistic with over 34% day-to-day gains FX Street 1 year The USD/JPY pair consolidates Monday’s losses in the 103.40 price zone, as the market’s sentiment remains sour. Bears are set to pressure the 103.15 support, Valeria Bednarik, Chief Analyst at FXStreet, reports. Key quotes “Investors are still trying to digest the news that a new coronavirus strain could be spreading in Europe after the UK announced it discovered it back in September. Given it’s highly contagious, further lockdowns and travel bans are likely, which means another delay in an economic comeback.” “The 4-hour chart shows that the price is barely holding above a flat 20 SMA, while below the larger… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
