USD/JPY – finding support at hourly 100-MA

USDJPY H1 (04-15-2016 1746).png

USD/JPY is finding support at hourly 100-MA at 108.86 levels.

Point to be noted – Yen is no longer following equity markets, but leading equities. The only way Yen could weaken is on the rise in treasury yields. Otherwise, there is a very little reason for an uptick in USD/JPY pair.

On technical terms, the outlook stays bearish as long as bears are able to defend sideways channel hurdle seen on the daily chart around 110.20.

 

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