USD/JPY is retreating after failing to carry above the 200-DMA, with draw back dangers pointing towards 144.40 and probably 142.10 if weak spot persists, Société Générale’s FX analysts be aware.
Failure above 200-DMA alerts weak momentum
“USD/JPY has retracted after dealing with interim resistance close to 150.90 earlier this month. It failed to ascertain above the 200-DMA (now at 149.30) highlighting an absence of regular upward momentum. Holding beneath this MA, there’s a threat of continuation in decline.”
“A brief-term down transfer in direction of an ascending pattern line drawn since April at 144.40 is probably going. The Might low of 142.10 is a vital help.”
