The Japanese Yen might be showing early warning signs that the currency might be getting ready to reverse against the US Dollar. Over the past 24 hours, USD/JPY broke under the 145.07 inflection point that was established in late June. This followed the presence of negative RSI divergence showing fading upside momentum.
That can at times precede a turn lower. Now, recent losses have exposed the 20-day Moving Average (MA) as immediate support. This line may reinstate the near-term upside focus. Otherwise, confirming a breakout below opens the door to extending losses. Still, keep in mind that the rising trendline from March is maintaining the broader bullish technical bias.
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