USD/JPY Daily Outlook

FX:USDJPY   U.S. Dollar / Japanese Yen
225 0 5
USD/JPY             has retreated after making a high of 119.82. It is currently trading around 118. Intraday bias is on negative as it is trading below ichimoku cloud and also 200day HMA .

On the upside minor resistance is around 119.20 and any break above will target 119.80/120 in short term.

The pair’s minor support is around 118.20 and break below ill drag the pair further down till 117.85/117.20.

Indicators (1 hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell

Recommendation: Sell USD/JPY             around 118.70, SL 119.22, Targets 117.82/117.25.
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