FxWirePro
Short

USD/JPY Short Term outlook

FX:USDJPY   U.S. Dollar/Japanese Yen
181 0 1
•RES 4: 121.18

•RES3 :120.81 ( Apr             13th high)

•RES 2: 119.94 (200 day 4HMA)

•RES 1: 119.50 (20 day 4HMA)

PRICE: 118.93 @ 05:24 GMT            

•SUP 1: 118.50 ( Apr             20th low)

•SUP 2: 118.16 ( 61.8% retracement of 115.85 and 122.01)

•SUP 3 -116.85 (Feb 3rd low)

•SUP4-115.85

COMMENTARY:
USD/JPY             once again mad a high near 120 and retreating from that level. This confirms short term trend is neutral and any bullishness can be seen only above 120.06 level.

Short term bullish invalidation level-118.16. Any break below 118.16 will drag the pair further down till 116.85/115.90 in short term.

On the upside minor resistance is around 120.05 and any break above would extend gains till 120.81/121.18.
The minor supports are 119/118.45/118.15.

Indicator (4 hour chart)

CCI (50) - Sell

Woodies CCI (14) – Sell

Ichimoku- Sell

It is good to sell on rallies around 119.50 for the target of 118.20 with stop around 120.10.

United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out