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.
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.