USDJPY (1H) - short term bullish bias
The RSI divergence from last week foreshadowed a possible recovery of the US dollar against the yen. Friday's bullish candle broke above the moving averages that acted as resistance during the fall. The faster MA has crossed above the slower one giving further confirmation that a turnaround could be happening. A rally would push the price beyond 107.30, while 106.50 will be a key risk for the downside.
The RSI divergence from last week foreshadowed a possible recovery of the US dollar against the yen. Friday's bullish candle broke above the moving averages that acted as resistance during the fall. The faster MA has crossed above the slower one giving further confirmation that a turnaround could be happening. A rally would push the price beyond 107.30, while 106.50 will be a key risk for the downside.