USDJPY edges lower near 2-month low

From xm.com

USDJPY tumbled to a new two-month low of 154.50 following a significant pullback from the long-term ascending trend line and the 50-day simple moving average (SMA) near 157.90. The stochastic oscillator created a bearish crossover, diving to just above the oversold region, while the RSI is also pointing downwards near the 30 level. Further losses may drive the pair towards the 38.2% Fibonacci retracement level of the up leg from 140.20 to 161.94 at 153.65, before challenging the 200-day SMA around the 151.80 support. Slightly lower, the 50.0% Fibonacci of 151.10 may act as a turning point for traders. On the other ... (full story)