USD/JPY’s 4-hour chart is calling a stronger oversold bounce.  The pattern would fail if the risk-off tone worsens.  USD/JPY’s 4-hour chart shows the relative strength index has created higher lows, contradicting the lower highs on the price chart.  That bullish divergence represents temporary bearish exhaustion, meaning the stage is set for a corrective bounce to the former support-turned-resistance of 110.28, especially if the risk appetite improves somewhat.  As of writing, the futures on the S&P 500 are reporting a 0.96% drop on the day, courtesy of escalating US-China trade tensions.  The bullish divergence of the RSI would be invalidated below 110.47. That will likely happen if risk aversion worsens during the day ahead.  4-hour chart Trend: Oversold bounce likely 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 NZD/JPY Technical Analysis: Supported at the 61.8% Fibo, eyes on 72.20 recent lows FX Street 3 years USD/JPY's 4-hour chart is calling a stronger oversold bounce.  The pattern would fail if the risk-off tone worsens.  USD/JPY's 4-hour chart shows the relative strength index has created higher lows, contradicting the lower highs on the price chart.  That bullish divergence represents temporary bearish exhaustion, meaning the stage is set for a corrective bounce to the former support-turned-resistance of 110.28, especially if the risk appetite improves somewhat.  As of writing, the futures on the S&P 500 are reporting a 0.96% drop on the day, courtesy of escalating US-China trade tensions.  The bullish divergence of the… Top 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.
