Remains confined in a three-day-old trading range around mid-108.00s. The set-up favours further near-term fall, albeit warrant some caution. The USD/JPY pair traded with a mild negative bias through the early European session on Friday, albeit remained confined well within a three-day-old trading range around mid-108.00s. Given that the pair has repeatedly failed to find acceptance above the very important 200-day SMA, the bias seems tilted in favour of bearish traders and support prospects for further declines. The near-term negative outlook is further reinforced by the fact that the pair has been drifting lower along a descending trend-line, which should keep a lid on any attempted recovery move. Meanwhile, technical indicators on the daily chart haven’t been supportive of any firm direction and warrant some caution before placing any aggressive bearish bets amid mixed trade headlines. Conversely, a sustained move beyond the trend-line resistance, currently near the 108.80 region and a subsequent breakthrough the 109.00 handle (200-DMA) might negate the bearish bias. USD/JPY daily chart 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 Indian Rupee Price News & Forecast: USD/INR suffers fourth day of falls amid hopes from India FX Street 3 years Remains confined in a three-day-old trading range around mid-108.00s. The set-up favours further near-term fall, albeit warrant some caution. The USD/JPY pair traded with a mild negative bias through the early European session on Friday, albeit remained confined well within a three-day-old trading range around mid-108.00s. Given that the pair has repeatedly failed to find acceptance above the very important 200-day SMA, the bias seems tilted in favour of bearish traders and support prospects for further declines. The near-term negative outlook is further reinforced by the fact that the pair has been drifting lower along a descending trend-line,… 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.
