The dollar bounced back against the yen after a weak Tokyo CPI in September.
As the pair rose to the peak from February 2020 (112.20), a bearish RSI divergence revealed weakness in the momentum. A break below 111.20 and a bearish MA cross may have dented optimism.
The US dollar has seen bids at 110.90 when the RSI neared the oversold area. However, the bounce has been capped by 111.50 as trapped buyers were waiting to get out. A new round of sell-off would send the price to the psychological level of 110.00.
