USD/JPY Morning Technical Report 10/2/2016

ecPulse
2016-02-10 07:57AM UTC

As discussed yesterday, RSI14 has reached the value of 30.00, which caused continuous fluctuation during the previous three sessions.

Despite showing strong fluctuation, but the USDJPY showed bearish tendencies that argues us to hold onto our bearish scenario following the break below 115.90, which acts as a resistance.

A break below 114.25-114.20 zones will make us neglect any oversold signals on momentum indicators.

To recap, we remain bearish on the pair as far as 115.90 hold.

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