forexTrdr
Short

forexTrdr USDJPY - TRENDLINE, STOCHASTIC + RSI ALL POINTING 1WAY

FX:USDJPY   U.S. Dollar / Japanese Yen
Morning traders

We have multiple indicators lining up to suggest US dollar versus Japanese Yen price action is about to head lower towards low 107 area.

Firsly we have a descending trendline that we have highlighted on our trading view chart coming from 109 area on 10th of July and being tapped twice overnight at low 108s before pulling back to 107.85 area. This is in line with stochastics rolling over from overbought status and RSI pulling back from resistance to the upside around 52. All of which we have highlighted on our trading view charts to make it clean and simple to understand.

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