Intraday trend: Bearish
Ichimoku analysis (30 min chart):
Tenkan-Sen level: 120.49
Kijun-Sen level: 120.52
Ichimoku cloud top: 121.01
Ichimoku cloud bottom: 121.24
USD/JPY is retreating after making a high of 121.80 and overall trend is weak as long as intraday resistance 120.60 holds.
On the upper side break of 120.60 will target 121/121.80 in the short term. The pair’s minor support is around 120 and any break below will take the pair to 119.31/118.25.
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Sell
Recommendation: Sell USD/JPY around 120.10-15, SL 120.61, Target 119.32/118.78
Ichimoku analysis (30 min chart):
Tenkan-Sen level: 120.49
Kijun-Sen level: 120.52
Ichimoku cloud top: 121.01
Ichimoku cloud bottom: 121.24
USD/JPY is retreating after making a high of 121.80 and overall trend is weak as long as intraday resistance 120.60 holds.
On the upper side break of 120.60 will target 121/121.80 in the short term. The pair’s minor support is around 120 and any break below will take the pair to 119.31/118.25.
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Sell
Recommendation: Sell USD/JPY around 120.10-15, SL 120.61, Target 119.32/118.78
