FxWirePro
Short

USD/JPY is struggling to break 120.50, good to sell on rallies

FX:USDJPY   U.S. Dollar/Japanese Yen
128 0 0
•RES4 122.01 (Mar 10th High)

•RES3 :121.18

•RES 2 120.80 (13th Apr high)

•RES1:120.50 (May 5th high)


PRICE: 119.85 @ 05:32GMT

•SUP1: 119.85 (200 day HMA)

•SUP2: 119.50 (May 8th low)

•SUP 3: 119.19 (May 6th low)

•SUP 4 118.48 (Previous week low)


COMMENTARY:

USD/JPY             has slightly retreated from high of 120.26 and is currently trading at 119.83. The major resistance is around 120.50 and any further bullishness can be seen only above that level.

Intraday trend reversal level below 119.50.

Short term bullish invalidation level-118.50. Any break below 118.16 will drag the pair further down till 116.85/115.90 in short term.

Indicator (1 Hours chart)

CCI (50) - Sell

CCI (14) – Buy

Ichimoku- neutral

It is good to sell on rallies around 120 for the target of 118.60 with stop around 120.60




Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener 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
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out