USD/JPY closed slightly lower on Wednesday and the low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends last week's decline, this month's low crossing is the next downside target. Closes above the 20-day moving average crossing are needed to confirm that a short-term bottom has low posted.
Join the Discussion