The primary trend of USD/JPY is on charts and price is trading below the in its 4 hourly chart. In 4 hourly chart the price is below 200 day and 50 day indicating downtrend of the pair. It is having an important level of 116.80. If it breaks its trend-line (black line) on the downside and sustains below it then we can expect it to show further movement in the pair.
If the pair breaks the level of 116.81, then we can expect it to test the levels of 118.
is sustaining in its negative territory although has crossed on the daily indicating a change in trend in the pair.
is leaving its selling zone indicating the upcoming in the pair.
USD/JPY is looking on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions in it.
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