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USDJPY Technical analysis 22 June 2018

2018-06-22 01:24 am | Resource: Technical Analysis | No Views : 33

Time frame Used - four hours
The USDJPY is moving in a bearish direction in the near term
   The selling force managed to control the USDJPY to retreat again below the uptrend line to reach to level of  109.83, forming a positive candlestick pattern and a bottom higher than  of the previous bottom
  In view of the technical indicators
Both the RSI and the Stochastic are indicating signs of recovery
Therefore, we expect that  the USDJPY will  test level of  110.25-110.58 again
  The alternative scenario is that the USDJPY break level of 109.83 down to target the levels of 109.45 - 109.00
Resistance: 110.25 - 110.58 - 110.90
Support: 109.83 - 109.45 - 109.00
Direction: Down
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