Failure attempt to regain 1.4200 send the pair back down close to yesterday’s low. Hourly indicators are quite bearish, with momentum cutting the 100 line and current candle opening under 20 SMA. A bit exhausted, short upside correction to 1.4150 before an attempt to breach under 1.4105 strong support zone.
Falling optimism continues pushing Japanese Yen higher and the pair is approaching to the roof of the broken daily descendant channel around 96.20; a rebound there, will mean pullback is complete and pair could regain the upside if breaches back above 96.70. Confirmations under mentioned 96.20 will send the pair lower to test 95.50 zone. Hourly indicators look a bit exhausted to the downside, so expect some upside corrections in the short term.
Falling optimism continues pushing Japanese Yen higher and the pair is approaching to the roof of the broken daily descendant channel around 96.20; a rebound there, will mean pullback is complete and pair could regain the upside if breaches back above 96.70. Confirmations under mentioned 96.20 will send the pair lower to test 95.50 zone. Hourly indicators look a bit exhausted to the downside, so expect some upside corrections in the short term.
