USD/JPY Price Analysis: Intraday recovery falters near 200-hour SMA, around 135.70 area By HareshMenghani USDJPY Technical Analysis Majors Currencies
The overnight break through an ascending trend-line and 200-hour SMA favours bearish traders.USD/JPY
Given the overnight breakdown through a two-week-old ascending trend-line, subsequent weakness below the 200-hour SMA was seen as a fresh trigger for bearish traders. The latter, currently around the 135.70 region, capped the USD/JPY pair's intraday recovery move and should now act as a key pivotal point for short-term traders.
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