0027 GMT - The dollar may extend downtrend against yen, says Matt Simpson, market analyst at forex.com and City Index. The currency pair had its worst day in over six weeks on Wednesday, with "bearish engulfing day slamming" the pair to range lows and signaling further downside, the analyst says in a commentary. A bearish divergence also formed on the daily relative strength index and the pair posted a daily close below the 20-day exponential moving average, the analyst says. That puts him "on guard for an eventual break beneath 156, to bring the 50-day EMA (154.86) and monthly pivot point (154.63) into focus," Simpson adds. USD/JPY is little changed at 156.40. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 15, 2025 19:28 ET (00:28 GMT)
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