By Christopher Romano — May 20 - 10:05 AM
Two daily dojis in place the last two trading sessions, implies indecision
Investors are taking a break as key support near 127.00 is approaching
Daily RSI is rising but other technical signals highlight downside risks
The 10-DMA has crossed below the 21-DMA, likely a downside signal
Monthly RSI falling after diverging on the new high set onMay 9th
Should support near 127.00 break stop loss selling likely takes hold
Shorts then target supports near 125.10, daily cloud top, 123.95/124.05
For more click on FXBUZ
usdjpy Click here
Source:
Refinitiv IFR Research/Market Commentary