USD/JPY has retreated after making a high of 119.82. It is currently trading around 118. Intraday bias is on negative as it is trading below ichimoku cloud and also 200day HMA.
On the upside minor resistance is around 119.20 and any break above will target 119.80/120 in short term.
The pair’s minor support is around 118.20 and break below ill drag the pair further down till 117.85/117.20.
Indicators (1 hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
Recommendation: Sell USD/JPY around 118.70, SL 119.22, Targets 117.82/117.25.
On the upside minor resistance is around 119.20 and any break above will target 119.80/120 in short term.
The pair’s minor support is around 118.20 and break below ill drag the pair further down till 117.85/117.20.
Indicators (1 hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
Recommendation: Sell USD/JPY around 118.70, SL 119.22, Targets 117.82/117.25.