USDJPY has been trading in a lower top lower bottom formation suggesting the trend to be bearish in the near term, further it is also trading below the 20-day SMA corroborating the above observation. The current rebound experienced by the pair is likely to be short lived and could be used to sell the currency pair. It would be prudent to say that the pair could decline in the near term towards $102.90 and $102.60 if it sustains below $103.50.
Technical Analysis Team
Offering state of the art execution services through multiple top-tier liquidity providers. Abans Global provides you with a tailor-made solution to match the demanding requirements of your business, with the multi-assets offering, advanced trading platforms and FIX API connectivity that provides ultra-low latency.