{video}USDJPY is again lower today, recording its fifth consecutive red candle for the first time since the July correction. It is now testing the support set by the 100-day simple moving average (SMA) and the March 24, 2023 upward sloping trendline. Especially, in the case of the latter, USDJPY failed to trade below this trendline during July, thus raising the importance of this battle. In the meantime, the momentum indicators are endorsing the current move. The Average Directional Movement Index (ADX) has managed to climb above its 25-threshold, thus signaling a bearish market trend. More importantly, the RSI has ... (full story)