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Tactical Strategies - USD vs. Japanese Yen Cross: negative RSI divergence

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Michael Ragazzo
By :  ,  Director - Institutional Sales
Oct 29, 2024

Tactical Strategies - USD vs. Japanese Yen Cross: negative RSI divergence

 
  • Michael Ragazzo
  • Director - Institutional Sales • Professional Trading Group

  • [email protected]

USD vs. Japanese Yen Cross: a negative RSI divergence occurred on 10/28, as the RSI did not make a new high while the cross closed on new recent high. A similar condition occurred in early July (purple vertical lines; bearish USD). This is an indication that the market may be overdone to the upside and could correct.

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