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USD/JPY update (15th May 2017, 12:00)

USD/JPY remains fragile.

USD/JPY remains fragile.

A bounce for USD/JPY from oversold intraday levels will give some hope to the bulls that the losses from the end of last week will be recovered.

Certainly, the intraday trend is still not broken, with a close below ¥113 needed for this to start becoming a reality. If the recovery falters below ¥114, then there is the potential for a move below ¥113 to start a move towards the 50-day simple moving average (SMA) at ¥111.72. 


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USD/JPY update (15th May 2017, 12:00)

USD/JPY remains fragile.

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