0022 GMT - Dollar-yen's medium-term uptrend from the Sept. 16, 2024 low may be in "jeopardy" of shaping a possible multi-week corrective decline sequence, Oanda's Kelvin Wong says in an email. The currency pair's daily relative strength index has indicated a bearish divergence at its overbought territory since Jan. 8, 2025, and recently broke below the 50 threshold, the senior market analyst notes. A break below 152.90, which is 200-day moving average, could trigger a corrective decline toward medium-term support levels at 149.30 and 144.80. However, a break above 158.80 would invalidate this bearish scenario, the analyst adds. USD/JPY is 0.1% higher at 155.32. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 16, 2025 19:22 ET (00:22 GMT)
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