USD JPY is inclining to decline on forex market
1/12/2017 2:30:12 PM
The USD/JPY pair continued downward bias for the 4th successive day and is now expanding the decline back below 115.15 psychological mark.
At present trading at 114.33 level, the pair has recoil closer to yesterday's 5-week low reached after disappointment from the Donald Trump's news conference, where he unsuccessful to provide any particulars of the proposed fiscal policies to incentive economic growth.
A search through selling pressure below 114.27 would turn the pair at risk to expand its corrective slide towards 50-day SMA support near 113.05 handle, with 113.77 and 113.38 levels acting as intermediate support.
On the other hand, any recovery effort might now provoke persistence near 114.77 area above which the pair is likely to make a fresh effort to regain 115.05 handle above which the recovery momentum could get expanded back towards session peak persistence near 115.47 area.
FOREX Fundamental Analysis
Written by FxErvin