Exchange rate still is above the moving averages with periods of 34, 55, 144 and 89, which are directed upward and points to the continued bullish sentiment, as well as the next support levels are 83.35, 83.00 and 82.50.MACD histogram is located in the positive zone, but below its signal line, continues to gradually decline, and thereby sends a signal to sell USD / JPY.
In addition, the MACD histogram has formed a bullish divergence (divergence). Beginners recall that a bullish divergence (divergence) is formed when a new peak prices are not confirmed by a new peak of the indicator, ie prices above the previous peak, and the corresponding indicator is below the previous peak. This signal indicates the weakness of the current trend.
Stochastic Oscillator is in the neutral zone and generates a similar signal as the% K line falls below the% D.
Therefore, as a confirmation of what the forex market in a given currency pair can amplify the downward correctional movement, we can only wait for the breakdown of the support level of 83.50, which will open the path to levels of 83.10/00 and 82.70/50.
Resistance Levels: 83.90, 84.30, 84.50, 84.70, 85.00/10
Current price: 83.60
Support levels: 83.50, 83.10/00, 82.70, 82.50, 82.30, 82.10/00
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