USD/JPY breaks support at 105.80, good to go short on rallies
JPY regained lost footing in the Asian session, USD/JPY once again below 106 handle.
The pair breaks major trendline support at 105.80, intraday bias lower.
Techs on 2-hourly charts are bearish. Stochs rollover from overbought zone and RSI biased south.
Immediate support and resistance are seen at 105.30 (5-DMA) and 105.96 (session high).
Focus remains on US housing data, while the prevalent risk trends will continue to drive price action in the major.
Good to sell rallies around 105.80/90, SL: 106.30, TP: 105.30/ 105
The pair breaks major trendline support at 105.80, intraday bias lower.
Techs on 2-hourly charts are bearish. Stochs rollover from overbought zone and RSI biased south.
Immediate support and resistance are seen at 105.30 (5-DMA) and 105.96 (session high).
Focus remains on US housing data, while the prevalent risk trends will continue to drive price action in the major.
Good to sell rallies around 105.80/90, SL: 106.30, TP: 105.30/ 105