USD/JPY is ending the week confined to a fifteen pips’ range ever since the day started, trading around the 107.50 price zone, although still lacking direction. The pair would turn bearish on a break below 106.95, FXStreet’s Chief Analyst Valeria Bednarik reports. Key quotes “Speculative interest ignored encouraging Japanese data, as the country published the June Jibun Bank Services PMI, which recovered from 26.5 to 45. Also, China released the Caixin Services PMI, which unexpectedly surged to 58.4 from 55 in May, and against the 49.9 expected.” “The pair is stuck between directionless moving averages. The bearish case will be firmer on a break below 106.95, a Fibonacci support level.” “The long-term perspective is neutral amid the safe-haven condition of both currencies. In the shorter-term, and according to the 4-hour chart, USD/JPY is also neutral but has the potential of falling further, as technical indicators remain within negative levels, with modest downward slopes.” 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 Ripple Price Prediction: XRP/USD attempts a recovery, still within the range – Ripple confluence FX Street 3 years USD/JPY is ending the week confined to a fifteen pips’ range ever since the day started, trading around the 107.50 price zone, although still lacking direction. The pair would turn bearish on a break below 106.95, FXStreet’s Chief Analyst Valeria Bednarik reports. Key quotes “Speculative interest ignored encouraging Japanese data, as the country published the June Jibun Bank Services PMI, which recovered from 26.5 to 45. Also, China released the Caixin Services PMI, which unexpectedly surged to 58.4 from 55 in May, and against the 49.9 expected.” “The pair is stuck between directionless moving averages. The bearish case will be… 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.
