The USDJPY pair rose during its recent intraday trading, driven by positive signals from the relative strength indicators. However, the indicator has entered heavily overbought territory, excessively compared to the price movement, suggesting a rapid fading of the bullish momentum surrounding the pair.

This comes as the price is currently encountering resistance at the EMA50, amid the dominance of a bearish corrective wave, and after the pair had previously broken a key short-term ascending trendline.