USD/JPY intraday: the RSI is oversold
Our pivot point is at 150.09.
Our preference: the downside prevails as long as 150.09 is resistance.
Alternative scenario: above 150.09, look for 150.54 and 150.81.
Comment: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 149.88 and 149.88). Finally, the USD/JPY is trading below its lower Bollinger band (standing at 149.70).
Supports and resistances:
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