- USD/JPY’s retreat from 112.52 to 112.40 puts focus back on the bearish RSI divergence confirmed on Friday.
- Hence, a deeper pullback to 112.00 could be on the cards.
Hourly chart
Spot Rate: 112.40
Daily High: 112.56
Daily Low: 112.20
Trend: Bearish
R1: 112.56 (Asian session high)
R2: 112.80 (Friday’s high)
R3: 113.24 (200-week MA)
Support
S1: 112.20 (session high)
S2: 111.92 (100-hour MA)
S3: 111.24 (200-hour MA)