USD/JPY (a 4-hour chart)
The USD/JPY softened on Monday’s trades. The dollar is still under pressure after weaker-than-expected Non Farm Payrolls report. Moreover, the
The pair erased some of its previous gains on Monday. The price decreased from last week highs at 104.30 to the 103.50 region. The instrument remained above the moving averages in the 4 hours chart. The 50-EMA broke the 100-EMA and approached the 200-EMA in the mentioned timeframe. The resistance is at 103.50, the support comes in at 102.50.
MACD formed a divergence in the 1 hour chart. RSI left the overbought area, but remained within positive territory.
A break below 102.50 risks a decline back towards the support 101.40. If the USD/JPY returns above 103.50 the instrument may grow to 104.50.