FXstreet.com (San Francisco) - The USD/JPY shed all gains made overnight Tuesday, having fallen to a recent low of 78.75 from an earlier high of 79.12, last quoted down 0.4% on the day at 78.78 vs. 79.08.
The 4-hour chart displays RSI hovering just above the oversold 30 mark, while the CCI is now crossing below the oversold -100 level.
Immediate support comes in at 78.68 (16 July low); if the pairing manages to push below, next support lies at 78.60 (15 June low), 78.29 (25 Jan high) and 77.89 (9 Sept high). The 79.00 figure may cap rallies to the upside, while the 9-day EMA at 79.16 lies above there.
The 4-hour chart displays RSI hovering just above the oversold 30 mark, while the CCI is now crossing below the oversold -100 level.
Immediate support comes in at 78.68 (16 July low); if the pairing manages to push below, next support lies at 78.60 (15 June low), 78.29 (25 Jan high) and 77.89 (9 Sept high). The 79.00 figure may cap rallies to the upside, while the 9-day EMA at 79.16 lies above there.
