USD/JPY: The decline could accelerate below 109.65
The USD/JPY pair is trading at daily lows in the 109.80 region, bearish in the short-term, according to Valeria Bednarik from FXStreet.
“The 4-hour chart shows that the pair has finally broken below its 20 SMA, now flat and providing dynamic resistance at around 110.85.”
“Technical indicators have fallen below their midlines, with the RSI heading firmly south at around 43.”
“Support levels: 109.65 109.20 Resistance levels: 110.15 110.50”