7-day old ascending trend-line, 4H 50EMA can question the USD/JPY pair’s latest pullback. 108.75/80, 109.00 seem the key upside resistance. Following its recent decline on the back of overbought RSI levels, the USD/JPY pair trades near 108.50 during early Monday. Even if 14-bar relative strength index (RSI) is near the overbought conditions, an upward sloping trend-line stretched since July 18 and 50-bar exponential moving average on the 4-hour chart (4H 50EMA), around 108.30/25, seems to be a tough nut to crack for sellers. Given the price dip below 108.25, 107.80 and 107.55 may offer intermediate halts to the monthly low close near 107.20. In a case where the quote takes a U-turn, it needs to successfully cross 108.75/80 regions in order to aim for the latest high surrounding 109.00. USD/JPY 4-hour chart Trend: Bullish 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 Cryptocurrency market update: Crypto bears hit the pause button as Bitcoin (BTC) and major altcoins register minor gains FX Street 4 years 7-day old ascending trend-line, 4H 50EMA can question the USD/JPY pair's latest pullback. 108.75/80, 109.00 seem the key upside resistance. Following its recent decline on the back of overbought RSI levels, the USD/JPY pair trades near 108.50 during early Monday. Even if 14-bar relative strength index (RSI) is near the overbought conditions, an upward sloping trend-line stretched since July 18 and 50-bar exponential moving average on the 4-hour chart (4H 50EMA), around 108.30/25, seems to be a tough nut to crack for sellers. Given the price dip below 108.25, 107.80 and 107.55 may offer intermediate halts to the monthly low… 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.
