forexeatrading 
- USD/JPY approaches downtrend line.
- RSI factors up however stochastic appears overstretched.
USD/JPY is gaining some floor, a number of hours earlier than the Fed interest rate decision which is predicted to depart the charges unchanged at 4.50%. The pair rebounded off the five-month low of 146.50 and is flirting with the short-term downtrend line barely beneath the 150.00 crucial stage.
Technically, the RSI indicator is making an attempt to cross above the impartial threshold of fifty; nonetheless, the stochastic is flattening close to the 80 stage, indicating an overstretched market.
If the value overcomes the downtrend line, instant resistance may come from the 151.15 barrier forward of the potential bearish crossover throughout the 50- and the 200-day easy transferring averages (SMAs) at 151.77. Surpassing these obstacles, the bulls may battle with the 154.80 barricade.
Alternatively, a pullback of the falling pattern line may ship buyers towards the 20-day SMA at 148.60 earlier than difficult the 146.50-147.15 help space. A slip decrease may open the best way for a check of the 141.60 stage.
To conclude, USD/JPY has been demonstrating a descending tendency since January 10, and solely a rally past the six-month peak of 158.86 may change the outlook to optimistic once more.
