USD/JPY Daily Outlook

FX:USDJPY   U.S. Dollar / Japanese Yen
165 0 2
USD/JPY             is trading around 119.63 with negative bias for Intraday. It is trading well below 200 day HMA , and tenken-sen.

On the upside major intraday resistance is around 120 and any break above would extend gains till 120.37 (Cloud top)/ 120.88 in short term.

The pair’s major support 119.20 and below that level will drag the pair further down till 118.69/118.

Indicators (1 Hour chart)

CCI (50) - Sell

CCI (14) - Sell

CCI (14) - Neutral

Recommendation: Sell USD/JPY             around 119.95 SL 120.35, Target 119.20.
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