The conditions of this currency trading instrument remain unchanged. Price is quite choppy, and there is some consolidation in the market, which is also characterized by alternative short-term and long-term upswings and downswings (very short-term in nature). When a breakout occurs, it will most likely be in favor of bears, because the outlook on JPY pairs remains bearish for this week.
The market has just indicated some form of bearishness. The RSI with period 14 is below the level 50, while EMA 11 is below the EMA 56. Generally, there is now a Bearish Confirmation Pattern in the market, and it would become clearer as price goes further downwards, owing to a possible stamina in the yen. The next targets are located at the demand zones of 130.00 and 102.50.
