FxWirePro

USD/JPY Daily Outlook

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
2
USD/JPY has recovered after making low of 118.02 and overall trend is bearish as long as resistance 119.60 (34 4HEMA) holds.
On the upside break above 119.60 will target 120.10/120.75 in short term.
The pair’s minor support is around 118.75 and any indicative break below would extend loss to 118/117.25.

Indicators (4 hours Chart)
CCI (50)- Sell
CCI (14)- Sell
Ichimoku- Neutral

Recommendation: Sell USD/JPY around 119-119.10, SL 119.61,Target 118. 05 .