USD/JPY is looking south with bearish lower highs and lower lows on the hourly chart. A break below the March 25 low of 109.70 may not happen immediately with intraday charts reporting oversold conditions. USD/JPY could soon test the support at 109.70 (March 25 low), having created another bearish lower high at the former support-turned-resistance of 110.28 over the last 15 hours, as seen in the hourly chart. The hourly chart relative strength index (RSI) of 33.00 is also biased bearish. That said, a break below 109.70 may not happen today, as 4-hour chart RSI is reporting oversold conditions. The RSI on the daily chart has also dropped below 30.00 for the first time since early January. However, with the descending 50-hour moving average (MA), currently at 110.25, corrective rallies, if any, could be short-lived. As of writing, the pair is trading at 109.89, having it a high of 110.15 earlier today. Hourly chart Trend: Bearish Pivot points 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 Gold managing to hold above the $1280 support area is encouraging – UBS FX Street 3 years USD/JPY is looking south with bearish lower highs and lower lows on the hourly chart. A break below the March 25 low of 109.70 may not happen immediately with intraday charts reporting oversold conditions. USD/JPY could soon test the support at 109.70 (March 25 low), having created another bearish lower high at the former support-turned-resistance of 110.28 over the last 15 hours, as seen in the hourly chart. The hourly chart relative strength index (RSI) of 33.00 is also biased bearish. That said, a break below 109.70 may not happen today, as 4-hour chart RSI is reporting oversold… 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.
