Take a look at our analysis for USDJPY.
Time Frame: 4H
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key level: 156.951.
Considering the today's price action, probabilities will be high to see a movement to 155.554.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought