USD/JPY nears crucial technological concentrations as safety flows continue to keep the yen bid – ForexLive
USD/JPY sits all around 109.00 now but price had before moved close to test the one hundred-working day moving normal
As hazard aversion carries on to dominate proceedings to get started European buying and selling, just be mindful that we are approaching some crucial concentrations for USD/JPY.
At the lows now, price moved towards screening the one hundred-working day MA (crimson line) @ 108.seventy two but has moved off a little to adhere all around 109.00 now. That and the 200-working day MA (blue line) @ 108.50 will be crucial concentrations to look at in the pair this week.
If fears encompassing the coronavirus go on to thrust much more flows into haven assets, the yen stands to advantage and breaking these crucial concentrations will speed up gains in the currency towards screening crucial aid all around 107.90-00 future.
On the lookout at the around-term chart, the bias carries on to favour sellers as price is continuing to continue to keep beneath the crucial hourly moving averages @ 109.60 and 109.eighty four respectively.
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