USDJPY maintained a series of consecutive gains during its latest intraday trading, supported by positive signals emerging from the relative strength indicators, attempting to correct the main short-term bearish trend, amid continued negative pressure resulting from trading below EMA50, which acts as dynamic resistance and limits the chances of a full recovery in the near term.
These pressures are intensifying as the relative strength indicators enter severely overbought levels, which may weaken the current bullish momentum and limit the price’s ability to extend its gains, keeping the chances of the main bearish trend valid despite the recent rise.
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The GBPUSD price declined during its latest intraday trading, breaking a main bullish trend line over the short term, coinciding with breaking EMA50’s support, intensifying the negative pressures surrounding the pair, with negative signals emerging from the relative strength indicators, indicating increasing selling momentum.
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MoreCrude oil declined during its latest intraday trading, gathering some of its previous gains, while attempting to ease its clearly overbought conditions on the relative strength indicators, particularly with the beginning of a bearish crossover. This may give the price an opportunity to take a breather and regain its positive strength in preparation for resuming its gains.
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