USD/JPY Daily Outlook

FX:USDJPY   U.S. Dollar / Japanese Yen
220 0 4
USD/JPY             has broken major support 119 and confirms short term weakness a decline till 118 cannot be ruled out.

On the upside minor resistance is around 119.40 (20 day HMA ) and any break above would extend gains till 119.70/120.

Intraday bearish invalidation can happen only above 120 level.

Indicators (1 Hour chart)

CCI (50) - Sell

CCI (14) - Sell

CCI (14) - Sell

Recommendation: Sell USD/JPY             around 119.20 SL 119.70, Target 118.10.

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