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Short

USD/JPY breaks support at 105.80, good to go short on rallies

FX:USDJPY   U.S. Dollar/Japanese Yen
275 0 10
JPY regained lost footing in the Asian session, USD/JPY             once again below 106 handle.

The pair breaks major trendline support at 105.80, intraday bias lower.

Techs on 2-hourly charts are bearish . Stochs rollover from overbought zone and RSI biased south.

Immediate support and resistance are seen at 105.30 (5-DMA) and 105.96 (session high).

Focus remains on US housing data, while the prevalent risk trends will continue to drive price action in the major.

Good to sell rallies around 105.80/90, SL: 106.30, TP: 105.30/ 105
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