During the Asian trading session on Monday, the USD/JPY currency pair is trading with a slight increase in quotes, remaining within the current support level at 109.59 and the resistance level around the 110.50 mark.
The moving averages with a period of 21 and 55 days turned down and formed a sell signal, which allows us to expect the formation of a downward trend in this market in the short term. The four-hour chart entered the area just below the exponential moving averages, which confirms the development of a downtrend in this market in the short term.
The technical picture also shows a slight strengthening 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 adheres to the 40 line, confirming the bearish trend in this market in the short term.