USD/JPY’s uptick lacks follow-through, despite USD bounce. Healthy resistance levels to cap the gains in the near-term. Daily RSI remains bearish ahead of the US ISM data. USD/JPY saw good two-way businesses earlier in the Asian session, now consolidating the volatile moves below 106.00, having faded a spike to near 106.45 region. The near-term technical outlook for the pair remains bearish while the price ranges within a month-long falling channel, with the upside attempts capped by the downward-sloping 21-day Simple Moving Average (DMA) at 106.58. The falling channel pattern could likely get confirmed only on a daily closing above the next resistance at 106.85 should the US ISM Manufacturing PMI better expectations. The next upside target lies at 107.17, the bearish 50-DMA. Alternatively, the intraday low at 105.72 could limit the immediate downside, below which the 105.50 psychological barrier could be tested. The daily Relative Strength Index (RSI) has turned flat below the 50 level, suggesting the sellers are likely to retain control in the coming days. USD/JPY: Daily chart USD/JPY: Additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD needs more QE and less talk of sub-zero borrowing costs to rise FX Street 3 years USD/JPY’s uptick lacks follow-through, despite USD bounce. Healthy resistance levels to cap the gains in the near-term. Daily RSI remains bearish ahead of the US ISM data. USD/JPY saw good two-way businesses earlier in the Asian session, now consolidating the volatile moves below 106.00, having faded a spike to near 106.45 region. The near-term technical outlook for the pair remains bearish while the price ranges within a month-long falling channel, with the upside attempts capped by the downward-sloping 21-day Simple Moving Average (DMA) at 106.58. The falling channel pattern could likely get confirmed only on a daily closing above the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
