USD/JPY closed higher on Tuesday and above the 20-day moving average crossing confirming that a short-term low has been posted. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are diverging and are turning bearish signalling that sideways to lower prices are possible. If it extends today's decline, the reaction low crossing is the next downside target. Closes above last Friday's high crossing are needed to renew this year's rally.
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