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USD/JPY to accelerate its slump on a break below 102.70

The USD/JPY pair resumed its decline and procedures Monday’s low at 102.70. The pair is technically bearish on the everyday dollar’s weakness, Valeria Bednarik, Chief Analyst at FXStreet, reports.

Key quotes
“Investors are now targeted on US Georgia Senate elections. The country will determine whether or not the Senate will continue to be in the palms of Republicans, or if it will quit cut up 50/50 with Democrats. In the latter case, upcoming vice-president Kamala Harris will make the distinction in her Senate´s president role.”

“From a technical factor of view, the USD/JPY pair is at chance of extending its slump. The 4-hour chart indicates that a firmly bearish 20 SMA contained the upside, now round 103.10.”

“The USD/JPY pair would speed up south on a wreck under 102.70, the on the spot support.”

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