USD/JPY off again on de-risking after weak China PMI rekindles China's hard landing concerns
- Asian indexes extended sell-off for the second straight session led by Shanghai stocks amid deteriorating Chinese manufacturing sector activity
- Official Chinese manufacturing PMI gauge contracted for the first time in seven months in August, PMI fell from 50.0 in July to 49.7 in August, its lowest since August 2012
- USD/JPY is currently trading at 120.69, with the day's high at 121.24 and lows at 120.59
- Price action is well below the cloud, Stochs show bearish crossover, RSI is biased lower
- Immediate resistance for USD/JPY is seen at 120.72 (Daily Kijun), while support on the downside is seen at 120.17 (Daily Tenkan)
Recommendation: Good to sell rallies around 120.65, SL: 121.25, TP: 120.20
Resistance Levels:
R1: 120.72 (Daily Kijun)
R2: 120.78 (200-DMA)
R3: 121.74 (Session High Aug 31)
Support Levels:
S1: 120.17 (Daily Tenkan)
S2: 119.79 (Aug 27 lows)
S3: 118.45 (Aug 26 lows)


FxWirePro- Woodies pivot (Major)
FxWirePro: USD/JPY edges lower as Yen gains on intervention fears
Aussie Weakness Takes Hold: AUD/JPY Bears Eye a Slide Toward the 110 Handle
FxWirePro: AUD/USD softens further, eyes level 0.7000
FxWirePro- Major Pair levels and bias summary
FxWirePro- Major Crypto levels and bias summary
NZDJPY Bearish Blueprint: Selling the Rallies as Resistance Holds Firm
FxWirePro- Woodies pivot (Major)
FxWirePro: GBP/USD slips after UK jobs data, vulnerable to more downside
NZD/JPY Under Pressure: Kiwi Slump Sets the Stage for a Bearish Extension
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/AUD recovers slightly but trend is still bearish
Euro Under Siege: Fed’s Hawkish Pivot Drags EUR/USD Below the 1.1600 Threshold
FxWirePro: NZD/USD bearish momentum builds as dollar firms
FxWirePro: EUR/ NZD gains some ground but bearish outlook persists 



