The pair heads into the Asian session retaining its short-term negative tone, according to technical readings in the 4 hours chart, as it's now developing below its 100 and 200 SMA, but more relevant, below the mentioned 111.20, a Fibonacci level, now the immediate resistance. Technical indicators in the mentioned chart have extended their declines within negative levels, with the RSI approaching oversold readings but giving no signs of changing course. Below the daily low, the pair has room to test July 26 low at 110.58, while a steeper decline is expected below this last toward the 110.00 figure.
Support levels: 110.85 110.55 110.20
Resistance levels: 111.20 111.60 111.90
Trade closed manually
⋅
The price had troubles to make a strong down, and now there is a divergence at 1H chart, it still can to go down but there is not any fundamental that could push the usdpjy down.