USD/JPY has recovered from session lows amid risk-on in Asian equities. The flag breakout on the 15-min chart suggests scope for a stronger rally. USD/JPY has trimmed losses with a move higher from a session low of 109.37 to 109.47. The recovery has confirmed a bull flag breakout on the 15-minute chart and open the doors for a rally toward 110.00. That looks likely as Tuesday’s marubozu candle indicates the sentiment is quite bullish. Further, the 14-day relative strength index (RSI) is now reporting bullish conditions with an-above 50 print. What’s more, the Asian stocks are flashing green and are likely to keep the anti-risk JPY under pressure. At press time, the Shanghai Composite index is reporting a 1.5% gain and the stocks in Australia and South Korea are adding 0.23% and 0.6%, respectively. The immediate bull case would weaken if the support at 109.37 is breached. That would create room for a deeper pullback to 109.00. 15-minute chart Trend: Bullish Technical 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 NEO Price Analysis: NEO/USD continues to flex bullish muscles in a Bitcoin bear market FX Street 2 years USD/JPY has recovered from session lows amid risk-on in Asian equities. The flag breakout on the 15-min chart suggests scope for a stronger rally. USD/JPY has trimmed losses with a move higher from a session low of 109.37 to 109.47. The recovery has confirmed a bull flag breakout on the 15-minute chart and open the doors for a rally toward 110.00. That looks likely as Tuesday's marubozu candle indicates the sentiment is quite bullish. Further, the 14-day relative strength index (RSI) is now reporting bullish conditions with an-above 50 print. What's more, the Asian stocks are flashing green and are… 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.
