SUMMARY:
The major trend of USD/JPY is bullish, the pair is sustaining on the rising trend line with a negative bias, we can expect some profit booking on higher levels, if USD/JPY breaks the trend line at 119.90 levels, we can expect it to test the level of 119.50/119.20 downside. Prices can come down to test 200 SMA, supporting the downside movement in the pair. RSI is sustaining in selling territory indicating the bearish sentiment in the market.
STRATEGY :-
For Today, USD/JPY is looking weak on chart. We can expect downside movement for few upcoming session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.
Today's Chart: USD/JPY ( HOURLY )
Pivot Points
The major trend of USD/JPY is bullish, the pair is sustaining on the rising trend line with a negative bias, we can expect some profit booking on higher levels, if USD/JPY breaks the trend line at 119.90 levels, we can expect it to test the level of 119.50/119.20 downside. Prices can come down to test 200 SMA, supporting the downside movement in the pair. RSI is sustaining in selling territory indicating the bearish sentiment in the market.
STRATEGY :-
For Today, USD/JPY is looking weak on chart. We can expect downside movement for few upcoming session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.
Today's Chart: USD/JPY ( HOURLY )
Pivot Points
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