USD / JPY to accelerate its decline on a break below 103.17

USD / JPY has reached a daily low of 103.25, now trading a handful of pips above this last. The pair have room to extend its recession and are poised to challenge this year’s low of 103.17, Valeria Bednarik, Chief Investigator at FXStreet, reports.

Core values

“It simply came to our notice then. The government closed Friday unless additional funding is agreed, so there’s a good chance they’ll get approval before the weekend. Investors are also optimistic about the Brexit talks, although the latest headlines show that fishing remains a barrier. ”

“The US will publish Retail Sales in November, expected to hold 0.3%. Later in the day, the U.S. Federal Reserve will unveil its latest monetary policy decision. The central bank is likely to maintain its wait-and-see stance but could also suggest further easing amid the ongoing U.S. position. The news introduces new economic forecasts, and any downturn there may put further pressure on the greenback. ”

“The USD / JPY pair has room to extend its recession, trading near this year’s low of 103.17. The 4-hour chart shows that the 20 SMAs have gone down lower than the larger ones, now around 103.85. Technical indicators are falling within negative levels, according to further slides, to be confirmed at a break below the stated low level. ”