USD/JPY – technical recovery likely
On the above hourly chart, the RSI has confirmed a bullish price RSI divergence.
The spot currently trades below 0/8 Murrey Line (oversold line).
Thus, a recovery to 109.76 (1-hr 50-MA + Murrey Line) looks likely. A break higher would expose 110.00-110.20 levels.
The descending trend line has been breached as well.
The spot currently trades below 0/8 Murrey Line (oversold line).
Thus, a recovery to 109.76 (1-hr 50-MA + Murrey Line) looks likely. A break higher would expose 110.00-110.20 levels.
The descending trend line has been breached as well.
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