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Short

USD/JPY Daily Outlook

FX:USDJPY   U.S. Dollar/Japanese Yen
218 0 2
USD/JPY             is struggling break above short term resistance 118. Overall trend is weak as long as short term top 118.85 holds.

The break of short term resistance around 118 will take the pair to 118.85/119.90.

On the downside major support is around 116.80 and break below will target 115.80.

Indicators (1 Hour chart)
CCI (50) - Sell
CCI (14) - Sell
Ichimoku- Sell

Recommendation: Sell USD/JPY             around 117.20-30, SL 118, Targets 116.80/115.90 .

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