- The USD/JPY pair dipped below 113.00 soon before press time, adding credence to the bearish divergence of the relative strength index (RSI) seen in the hourly chart.
- The bearish development on the hourly RSI also indicates the recovery rally from the recent low of 112.30 has likely ended.
The bearish RSI divergence would be invalidated if the pair rises above 113.23.
Hourly Chart
Trend: Bearish
Overview:
Last Price: 112.99
Daily change: -8.0 pips
Daily change: -0.0708%
Daily Open: 113.07
Trends:
Daily SMA20: 113.12
Daily SMA50: 112.9
Daily SMA100: 112.09
Daily SMA200: 110.2
Levels:
Daily High: 113.16
Daily Low: 112.64
Weekly High: 114.22
Weekly Low: 112.64
Monthly High: 114.56
Monthly Low: 111.38
Daily Fibonacci 38.2%: 112.96
Daily Fibonacci 61.8%: 112.84
Daily Pivot Point S1: 112.75
Daily Pivot Point S2: 112.43
Daily Pivot Point S3: 112.23
Daily Pivot Point R1: 113.28
Daily Pivot Point R2: 113.48
Daily Pivot Point R3: 113.8
Source: https://www.fxstreet.com/news/usd-jpy-t ... 1811220235
