24 Apr 2014
USD/JPY - Volumes increasing but little changed
FXStreet (Bali) - USD/JPY is currently stuck in the 102.50 vicinity, with the pair having recovered from a 102.15 lows earlier in the US session.
At present, the Nikkei 225 in Tokyo is trading -0.16%, failing to spur much acitivity in USD/JPY either, with market sources reporting that USD/JPY volumes are currently picking up despite very little movement, which may be due to 700M expiries noted at 102.50.
Technically, according to Valeria Bednarik, Chief Analyst at FXStreet: "the short term picture shows price capped below 100 SMA, while indicators aim higher still below their midlines. In the 4 hours chart the bearish momentum seen on previous update has receded with indicators now turning flat below their midlines."
At present, the Nikkei 225 in Tokyo is trading -0.16%, failing to spur much acitivity in USD/JPY either, with market sources reporting that USD/JPY volumes are currently picking up despite very little movement, which may be due to 700M expiries noted at 102.50.
Technically, according to Valeria Bednarik, Chief Analyst at FXStreet: "the short term picture shows price capped below 100 SMA, while indicators aim higher still below their midlines. In the 4 hours chart the bearish momentum seen on previous update has receded with indicators now turning flat below their midlines."