USD/JPY Daily Outlook

FX:USDJPY   U.S. Dollar / Japanese Yen
162 0 1
USD/JPY             is trading around 119.70 with intraday negative bias. It is trading well below 200 day HMA , tenken-sen ,Kijun-sen.

On the upside major intraday resistance is around 120.26 (Cloud top) and break above would extend gains till 120.88/121 in short term.

The pair’s major support 119.50 and below that level will drag the pair further down till 119/118.69.

Indicators (1 Hour chart)

CCI (50) - Sell

CCI (14) - Sell

CCI (14) - Neutral

Recommendation: Sell USD/JPY             around 119.85 SL 120.26, Target 119.05.
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