Continuous updating for USDJPY ahead of weekly closing
In the last technical comment on the USDJPY pair (published on June 10), we said the pair was on its way to activate a string negative divergence –class A- over weekly studies.
Additionally, bulls have experienced the highs recorded in 2007, which acted as a string resistance.
The current week’s candle is small, but it aims to close in red territories, while RSI14 is valued at 60.00, offering a sign of resuming the bearish correction.
Eyes should be now on 122.40 since a break below these levels will trigger panic sell-off actions, chiefly targeting 119.30-119.00 boundaries.