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USDJPY retreats but still holds within Bollinger band
USDJPY remains under pressure and risk is still to the downside as prices continue to drift lower after the bounce off the 109.70 resistance level, remaining within the Bollinger bands. The short-term technical indicators are bearish and moving in the negative territory. The stochastic dived in the oversold zone and continues to point down, while the RSI is moving sideways, suggesting a neutral to bearish view. The next target to the downside is the immediate support of the 23.6% Fibonacci mark of the upleg from 104.45 to 109.70 near 108.45 again. A drop below this significant region and the lower Bollinger band ... (full story)