While oversold levels of 14-day relative strength index (RSI) might have played its role in fetching the USD/JPY pair upwards, the quote still needs to clear nearby horizontal-resistance in order to justify its strength as it takes the rounds to 107.37 during early Monday. An area comprising lows of January 10 and June 05 questions the pair’s latest uptick targeting 21-day simple moving average (SMA) level of 108.44. Should oversold RSI manages to propel prices beyond 108.44, current month top surrounding 108.80 and May month low near 109.01 can entertain buyers. Meanwhile, pair’s decline below 107.06 comprising ... (full story)