USD/JPY: bearish decline technically underpinned - Scotiabank

FXStreet (Guatemala) - Analysts at Scotiabank explained that momentum signals are bearish, providing confirmation to the recent decline in USD/JPY.

Key Quotes:

"The RSI has dipped below 30 into oversold territory, however it remains well above the August 2015 low just above 20. Recent declines have been limited below support around 118.80, with few significant support levels ahead of 118. Near term resistance is expected above 119.80."