USD/JPY stages crushing decline

The 1-hour USD/JPY MACD series is sitting at extreme lows.

Recent plummeting USD/JPY price action has been highlighted by an above-average distance between MACD and its signal line. From a strategic standpoint, there could be further stomach-churning dips to endure, as well as brief relief rallies. The latest MACD print shows dissipation of downside momentum, thus reinforcing the second scenario.