tayalsmith
Short

USD/JPY BEARISH

FX:USDJPY   U.S. Dollar/Japanese Yen
7 0 1
The USDJPY             pair getting consolidate with negative biased and trading with resistance of Ichimoku Kinko Hyo cloud that appears on the above image indicating short term trend of the pair. At this point in time, the market is looking bearish . Also, the long trend of USDJPY             is bearing on charts and price has given breakout support level in its 4 hourly chart. In its hourly chart the price is sustaining below 50 day DMA.
Resistance level 102.20 Support level 101
If it manages to sustain below 101.30 and break its support level then we can expect it to show further down side movement in the pair.

INDICATORS:-
RSI is sustaining below 50 mark in negative territory indicating the upcoming negative trend in the pair.

STRATEGY: USDJPY             is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair.
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