Flash: USD/JPY bearish - TDS

FXstreet.com (Guatemala) - Strategists at TD Securities explained that USDJPY retained a weak bias overall this week, having flagged a bear reversal last week.

Key Quotes:

“A second net weekly decline is on the cards, following the nine consecutive weekly gains that preceded them so the short-term undertone retains a corrective bias”.

“Note that daily trend momentum is flipping to
bearish”.

“…we continue to view the longer-term trend here is USD-bullish and think that USDJPY weakness may only reach the low 102s in the next 1-2 weeks”.