FxWirePro
Short

USD/JPY Short Term Outlook

FX:USDJPY   U.S. Dollar / Japanese Yen
270 views
4
270 0
USD/JPY on Friday also made a high of 119.75 after release of US NFP data and has retreated from that level. Overall trend is bearish as long as resistance 120 holds.
On the downside 117.90 (23.6% retracement of 105.18 and 121.85) will be acting as major support and any break below will take the pair to 116.80/116.20 in short term.
The break of 120 on the higher side will target 120.70/121.65.

Indicators
Indicator (1 Hour Chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell

Recommendation: Sell USD/JPY around 118.65-70, SL 119.76, Target 116. 81/116.25.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out