Intraday trend: Bearish
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 117.50
Kijun-Sen level: 117.57
Ichimoku cloud top: 117.89
Ichimoku cloud bottom: 118.09
USD/JPY has broken short term support 117.30 and is expected to reach 116.78/166.31 in the short term.
The USD/JPY minor resistance is around 117.55 (200 day HMA) and any indicative break above would extend gain to 118/118.30.
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Sell
Recommendation: Sell USD/JPY around 117.35-40, SL 117.61, Target 116.81.
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 117.50
Kijun-Sen level: 117.57
Ichimoku cloud top: 117.89
Ichimoku cloud bottom: 118.09
USD/JPY has broken short term support 117.30 and is expected to reach 116.78/166.31 in the short term.
The USD/JPY minor resistance is around 117.55 (200 day HMA) and any indicative break above would extend gain to 118/118.30.
Indicators
Ichimoku (9, 26, 52, 26) - Sell
MACD (12.26.9) – Sell
Recommendation: Sell USD/JPY around 117.35-40, SL 117.61, Target 116.81.