– Below is the hourly chart for the USD/JPY.
– The indicators used are the Slow Stochastic and RSI.
– Point 1: The Slow Stochastic indicates an impending bullish cross, which may signal an upward movement is going to occur in the near future.
– Point 2: RSI signals that the price of this pair currently floats in the over-sold territory, indicating upward pressure.
– The volatile downward movement which occurred prior to this upward correction has generated these indicators, and there appears to be room for this correction to continue.
