FXStreet — The USD/JPY remains in contact with the early European trading mostly weak, even if it is a few Pips from the days low in the middle of the 113,50 can recover.
After yesterday’s recovery, the Couple fell on Tuesday once again under selling pressure. The US Dollar Index, which represents the strength of the USD against 6 major rivals, fell under the middle of the 98,00, since the last of US were the data is disappointing, what is the most important factor for the decline of the pair.
Later awaits us, various US economic data and this includes real estate data, and the industry production, what is the short-term-minded traders with a possibility to offer.
The FXStreet Analyst Omkar Godbole writes: «The bearish divergence between the price and the RSI, together with the Formation of lower highs, signaling the likelihood of a break below 113,00-112,89 in the direction of 112,50. The RSI is falling and he is on the verge of 50,00. On the 4 hour chart is at the 112,15 a rising support line.»
** FXStreet News Editorial, FXStreet**