USD/JPY manages to bounce off a nearly four-year low. Oversold RSI, risk reset seem to favor further pullbacks. The falling trend line from January 2019 offers the near-term key upside barrier. USD/JPY recovers 1.0% of the previous day’s flash-crash losses while taking the bids to 103.40 during early Tuesday. In doing so, the quote bounces off the lowest since late 2016 amid oversold RSI conditions. While odds are high for the pair’s further pullback towards 104.00, a downward sloping trend line since January 2019, at 104.55, seems to challenge the buyers afterward. Should there be an additional recovery past-104.55, October 2019 low surrounding 106.50 can flash on the bulls’ radars. Alternatively, the intra-day low near 102.00, followed by Monday’s bottom of 101.18, can offer rests to the short-term sellers. Though, any downside below 101.18 might not refrain to challenge the 100.00 psychological magnet. USD/JPY daily chart Trend: Further recovery expected 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 White House: US President Trump has not been tested for coronavirus FX Street 2 years USD/JPY manages to bounce off a nearly four-year low. Oversold RSI, risk reset seem to favor further pullbacks. The falling trend line from January 2019 offers the near-term key upside barrier. USD/JPY recovers 1.0% of the previous day’s flash-crash losses while taking the bids to 103.40 during early Tuesday. In doing so, the quote bounces off the lowest since late 2016 amid oversold RSI conditions. While odds are high for the pair’s further pullback towards 104.00, a downward sloping trend line since January 2019, at 104.55, seems to challenge the buyers afterward. Should there be an additional recovery past-104.55, October 2019… 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.
