USDJPY is now at a lower place below its daily SMA50, its daily SMA100, its daily SMA100 and its daily SMA200, after it formed a lower high yesterday at 109.92 came below its previous peak at 110.67 whereas it failed to maintain a place above its daily SMA100 on May. 21.
USDJPY is now trading in its sixth consecutive day of being below its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading 110.39.
USDJPY daily RSI-14 is still referring to lower existence inside its neutral territory reading 32.214 close to its oversold area below 30.
USDJPY daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is having now its main line inside its neutral region at 29.601 above its signal line which is still lower inside this same area at 27.219, following relatively higher momentum to the downside has been sparked in the recent hours in a try for forming negative crossover inside the neutral area.
Important levels: Daily SMA50 @ 110.78, Daily SMA100 @ 110.58 and Daily SMA200 @ 111.38
Experienced S&R:
S1: 108.48
S2: 107.77
S3: 106.74
R1: 109.92
R2: 110.67
R3: 112.40
Have a good day and nice trading times
Kind Regards
Global Market Strategist of FX-Recommends
Walid Salah El Din