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Aug 31 - 05:55 PM

USD/JPY - Slide From 2023 Peak Nears Pivotal Props, Divergence Risk Eyed

By Randolph Donney  —  Aug 31 - 04:10 PM
  • USD/JPY further from Tuesday's 10-month highs, lowest in 5 days

  • Getting near 23.6% and 38.2% Fibos at 145.17/14 and rising 21-DMA 145.03

  • The 21-DMA was very pivotal as support and resistance since late May

  • A close below it would eye last week's low and 50% Fibo at 144.55/45

  • Watching bearish daily and weekly RSI divergences

  • Daily RSIs are already down to neutral levels but still falling

  • A close below last week's low would lend credence to divergence signals

For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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