Forex: USD/JPY Technical Analysis – Readying to Reverse Lower?
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- Negative RSI divergence, Rising Wedge pattern warn of a reversal lower
- Breaking below 102.70 (Wedge bottom) exposes 102.18 (23.6% Fib ret.)
- Resistance is in the 103.58-73 area (Wedge top, May 22 swing high)
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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