USD/JPY attempts a minor bounce following a bearish break. Symmetrical triangle breakdown spotted on the hourly chart. Hourly RSI rebounds, still remains in the bearish region. Fresh bids emerged at the critical support of 105.50, allowing a tepid bounce in USD/JPY over the last hour. That demand area is the confluence of the bearish 200-hourly Simple Moving Average (HMA) and upward-sloping 100-HMA. The hourly Relative Strength Index (RSI) has rebounded from lows around 35 region but still remains in the bearish, suggesting that the recovery in the spot could lack follow-through. The spot charted a symmetrical triangle breakdown on the hourly sticks late Tuesday, following a breach of the rising trendline support, then at 105.75. The 21 and 50-HMA bearish crossover also added credence to the downside break. Should the bears give away the aforesaid crucial support at 105.50, a test of the pattern target below 105.00 will be inevitable. On the top side, the recovery momentum will gain traction only a sustained break above the 105.81 barrier, the convergence of the bearish 21-HMA and former pattern support now resistance. The next hurdle awaits at the horizontal 50-HMA of 105.93. USD/JPY: Hourly 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 Japan is considering extending its coronavirus relief employment subsidy – Reuters FX Street 2 years USD/JPY attempts a minor bounce following a bearish break. Symmetrical triangle breakdown spotted on the hourly chart. Hourly RSI rebounds, still remains in the bearish region. Fresh bids emerged at the critical support of 105.50, allowing a tepid bounce in USD/JPY over the last hour. That demand area is the confluence of the bearish 200-hourly Simple Moving Average (HMA) and upward-sloping 100-HMA. The hourly Relative Strength Index (RSI) has rebounded from lows around 35 region but still remains in the bearish, suggesting that the recovery in the spot could lack follow-through. The spot charted a symmetrical triangle breakdown on 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.
