During the Asian trading session on Wednesday, the USD/JPY currency pair is trading with a decrease in quotations, remaining within the current support level at 109.48 and the resistance level around the 110.41 mark.
The moving averages with a period of 21 and 55 days continue to move down, accelerate and have formed a sell signal again, which allows us to expect the development of a downward trend in this market in the short term. The four-hour chart remains in the area significantly below the exponential moving averages, which confirms the development of a downtrend in this market in the short term.
The technical picture also shows the continuation of the initiative "in the paws" of the bears, as the MACD histogram remains in the area below its central line, and the strength indicator of the current RSI movement has fallen below the 40 line, confirming the bearish trend in this market in the short term.
Thus, we intend to sell this trading instrument today.