The USD/JPY hourly chart shows the relative strength index (RSI) has adopted a bearish bias (dropped below 50.00) and the spot is establishing a lower high and lower low pattern (bearish setup). The 4-hour chart shows a bearish divergence of the RSI and the yesterday’s doji candle shows bullish exhaustion. All-in-all, the pair looks set for a deeper pullback. Hourly chart Spot Rate: 112.70 Daily High: 112.88 Daily Low: 112.65 Trend: Bearish Resistance R1: 113.00 (psychological hurdle) R2: 113.27/28 (200-week MA + 61.8 percent Fib of 2017-18 slide) R3: 114.74 *(November 2017 high) Support S1: 112.60 (5-day moving average) S2: 111.99 (10-day moving average) S3: 111.40 (May 21 high) 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 EU’s Moscovici: An escalation in EU-US trade tensions would hit financial markets FX Street 5 years The USD/JPY hourly chart shows the relative strength index (RSI) has adopted a bearish bias (dropped below 50.00) and the spot is establishing a lower high and lower low pattern (bearish setup). The 4-hour chart shows a bearish divergence of the RSI and the yesterday's doji candle shows bullish exhaustion. All-in-all, the pair looks set for a deeper pullback. Hourly chart Spot Rate: 112.70 Daily High: 112.88 Daily Low: 112.65 Trend: Bearish Resistance R1: 113.00 (psychological hurdle) R2: 113.27/28 (200-week MA + 61.8 percent Fib of 2017-18 slide) R3: 114.74 *(November 2017 high) Support S1: 112.60 (5-day moving… 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.
