Technical Analysis – USDJPY remains bearish below Ichimoku cloud
Posted on June 29, 2016 at 9:26 am GMTUSDJPY was stuck in its recent three-day trading range today and has been capped by the Tenkan-sen line since bouncing off last Friday’s 2½-year low of 98.96. Last week’s slide has significantly increased the downside bias for the pair with the MACD falling deeper into negative territory. There is little upside momentum for near-term gains as RSI remains well below 50 just above oversold level. The Tenkan-sen line is providing immediate resistance at 102.85 and prices will likely struggle to [..]