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USDJPY faces new struggle as FOMC decision looms
video USDJPY bulls took a breather after a constructive week, which saw the pair bouncing from a low of 137.23 to a high of 141.94. The pair recouped half of July’s freefall, but the 20-day simple moving average (SMA) has been a struggle so far this week, pushing the price softly to the downside. Encouragingly, the 50-day SMA managed to limit losses around 140.80 along with the 23.6% Fibonacci retracement of the 127.21-145.00 uptrend but buying interest seems to be negligible at the moment. The RSI is ready to re-enter the bearish area below 50 and the Stochastic oscillator is set to reverse lower after its peak ... (full story)