FxWirePro

USD/JPY Daily Outlook

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
0
Short term trend: Bearish
Ichimoku analysis (1Hour chart):
Tenkan-Sen level: 118.35
Kijun-Sen level: 118.41
Ichimoku cloud top: 119.15
Ichimoku cloud bottom: 119.70

USD/JPY has recovered till 118.87 after making low of 117.42. Intraday trend is weak as long as support 119. 40 holds.
The pair’s minor support is around 118.30 and any break of will target 117.82/117.30 in short term. The USD/JPY major resistance are 119. 01 , 119. 40 ,120.

Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Buy

Recommendation: Sell USD/JPY around 118.45-50, SL 119.02, Target 117.72/117.35.