The USD/JPY pair could witness a minor pullback to 111.30, courtesy of the bearish divergence of the relative strength index (RSI), seen in the hourly chart. A break below that level could be seen if Italy’s fiscal concerns trigger risk aversion in the European equity markets. The overall outlook remains bullish as indicated by the ascending 5-day and 10-day moving averages, and yesterday’s bullish outside day candle. Further, the monthly chart is flashing a pennant breakout. Hourly Chart Spot Rate: 113.53 Daily High: 113.63 Daily Low: 113.33 Trend: Temporary pullback likely Resistance R1: 113.75 (December 2017 high) R2: 114.74 (November 2017 high) R3: 115.00 (psychological level) Support S1: 113.33 (session low) S2: 112.68 (10-day moving average) S3: 112.56 (previous day’s low) 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 GBP/USD back below 1.31 ahead of the UK’s GDP reading FX Street 4 years The USD/JPY pair could witness a minor pullback to 111.30, courtesy of the bearish divergence of the relative strength index (RSI), seen in the hourly chart. A break below that level could be seen if Italy's fiscal concerns trigger risk aversion in the European equity markets. The overall outlook remains bullish as indicated by the ascending 5-day and 10-day moving averages, and yesterday's bullish outside day candle. Further, the monthly chart is flashing a pennant breakout. Hourly Chart Spot Rate: 113.53 Daily High: 113.63 Daily Low: 113.33 Trend: Temporary pullback likely Resistance R1: 113.75 (December 2017 high) R2: 114.74 (November… 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.
