USD/JPY Technical Analysis: Bearish RSI divergence

The USD/JPY pair is currently trading at 109.56 - down 0.18 percent on the day - and could drop further toward the ascending (bullish) 5-day moving average (MA), currently at 109.26, courtesy of the bearish divergence of the 14-hour relative strength index (RSI).

Hourly chart

  • The RSI is threatening to drop below 50.00 (in the bearish territory), having charted on Friday a lower high as opposed to a higher high on price.
  • The major averages (50, 100 and 200) are trending north and located one above the other, signaling that the path of least resistance is on the higher side.
  • The dollar, therefore, could find bids at the ascending 5-day MA of 109.26.

Trend: pullback underway


    Today Last Price: 109.56
    Today Daily change: -0.19 pips
    Today Daily change %: -0.17%
    Today Daily Open: 109.75
    Daily SMA20: 109.25
    Daily SMA50: 111.54
    Daily SMA100: 112.06
    Daily SMA200: 111.19
    Previous Daily High: 109.9
    Previous Daily Low: 109.06
    Previous Weekly High: 109.9
    Previous Weekly Low: 107.99
    Previous Monthly High: 113.83
    Previous Monthly Low: 109.55
    Daily Fibonacci 38.2%: 109.57
    Daily Fibonacci 61.8%: 109.38
    Daily Pivot Point S1: 109.24
    Daily Pivot Point S2: 108.73
    Daily Pivot Point S3: 108.4
    Daily Pivot Point R1: 110.08
    Daily Pivot Point R2: 110.41
    Daily Pivot Point R3: 110.92


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