During the Asian trading session on Monday, the USD/JPY currency pair is trading with an increase in quotations, remaining within the current support level at 113.73 and the resistance level around 114.58.
The moving averages with a period of 21 and 55 days have slowed down and seem to be turning downwards with the possibility of forming a sell signal, which indicates a change in the downward trend in the short term. The four-hour chart is progressing so far between exponential moving averages, confirming the weakening position of bulls in this market in the short term.
The technical picture shows a slight advantage of the bears, as the MACD histogram has entered the area just below its central line, and the strength indicator of the current RSI movement remains near the 50 line, confirming the downward potential in this market in the short term.
Thus, we intend to sell this trading instrument today.