USD/JPY; more weakness ahead? - TDS

FXStreet (Guatemala) - Strategists at TD Securities explained that the USD/JPY’s slide to the low end of the Feb-Apr consolidation range leaves the USD looking delicately poised.

Key Quotes:

“With daily cloud support failing to hold the market this week, the gently rising range (bear flag) developed over the past few weeks may be heralding more pronounced USD weakness ahead”.

“A clear push below 101.50 will tip the USD lower though markets are possibly more focused on the February low point (100.82) and weekly support just above (101.05) as triggers”.