Last
week the USD/JPY tried to move higher, but in the last three sessions plummeted
and closed at 112.82. Today the pair was seen hovering around 113.00 mark and
finally established slightly above to currently trade at 113.10. In the four-hour
time frame the 100-day SMA is sliding to downwards and is confining a potential
recovery. RSI is staying flat around 43, while Stochastic has retreated from
oversold area and is showing bullish signs, but yet both indicators are below their
mid-lines. First resistance is located at 114.95 and next at 115.60. Support is
seen at 111.60 and lower at 110.95.
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