USDCHF Triple Bottom at 0.7920 Under Threat: Bearish Signals Dominate – Sell Rallies Targeting 0.7865 
FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains 
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92 
FxWirePro: EUR/NZD uptrend loses steam but outlook still bullish 
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains 
FxWirePro- Major Pair levels and bias summary 
GBP/JPY Surges Post-BoE Cut: Bullish Momentum Eyes 210 as Support Holds at 207.80 
FxWirePro: USD/JPY firms as Japanese Yen weakens after BoJ rate hike 
FxWirePro- Major Pair levels and bias summary 
BTCUSD Dips Post-BOJ Hike: No Swift Tightening Boosts Risk – Buy Around $87K Targeting $100K 
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption 
EURJPY Surges Post-BOJ Hike: Bullish Momentum Builds – Buy Dips Targeting 185 
FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook 
FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook 
EUR/JPY Holds Bullish Bias Post-ECB Pause: Buy Dips Toward 185 as 182 Support Stands Firm 
FxWirePro- Major European Indices 
Chart - Courtesy Trading View
Technical Analysis:
- USD/JPY was trading 0.13% higher on the day at 130.43 at around 05:00 GMT
- The pair is trading pivotal at 200H MA support, decisive break below will drag the pair lower
- Inverted Hammer formation on Monday's candle dents upside in the pair
- MACD shows bearish crossover on signal line. Bearish RSI divergence adds to the downside bias
Fundamental Overview:
Pullback in US Treasury yields and mildly positive market sentiment after mixed Fedspeak, softer inflation expectations keep US dollar under pressure.
Fears of inflation weighing on the economic outlook, as well as China’s covid woes, stay on the table to cushion downside in USD/JPY.
Wednesday’s US CPI ex Food & Energy for April, expected 6.0% YoY versus 6.5% prior, will be crucial as the Fed’s 75 bps rate hike looms.
Major Support Levels:
S1: 130.19 (200H MA)
S2: 128.67 (20-DMA)
Major Resistance Levels:
R1: 131.34 (May 9th high)
R2: 131.85 (Upper BB)
Summary: USD/JPY could see some weakness in the near-term. Major trend however remains bullish. 20-DMA at 128.67 is strong support.
