USD/JPY chart - Trading View
USD/JPY was trading largely unchanged at 107.56 at around 08:55 GMT, with session high and low at 107.93 and 107.25 respectively.
The major was seen extending consolidation below 200-DMA, near-term bias has turned bearish.
Data released on Tuesday showed U.S. consumer confidence fell less than expected in March even as the country grappled with the coronavirus pandemic.
The Conference Board consumer confidence index decreased to 120.0 in March from an upwardly revised 132.6 in February, bettering estimates at 110.0.
U.S. stock futures declined as investors assessed worsening American coronavirus figures at the beginning of the new quarter.
Technical indicators are turning bearish. Stochs and RSI are now biased lower. MACD shows bearish crossover on signal line.
Next immediate support lies at 106.44 (Kijun sen and 50% Fib). Further bearish momentum could see test of 61.8% Fib at 105.20.
5-DMA is immediate resistance at 108.03. Bearish invalidation only above 200-DMA (108.30).
Support levels - 107, 106.44 (Kijun sen and 50% Fib), 106, 105.20 (61.8% Fib)
Resistance levels - 108.03 (5-DMA), 108.30 (200-DMA)
Data Watch:
US ADP Employment Change (Mar) - 12:15 GMT - Forecast: -154K, Prior: 183K
US Markit manufacturing PMI (Mar) - 13:45 GMT - Forecast: 49.2, Prior: 49.2
US ISM Manufacturing Employment Index (Mar) - 14:00 GMT - Forecast: 45.4, Prior: 46.9
US ISM Manufacturing PMI (Mar) - 14:00 GMT - Forecast: 45, Prior: 50.1
Guidance: Good to stay short on upticks around 107.70/108, SL: 108.50, TP: 107/ 106.45


Energy Sector Outlook 2025: AI's Role and Market Dynamics
Bitcoin Surges Past $85,000 Amidst Rising Risk Appetite
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed
FxWirePro: USD/CAD gains as broad dollar strength lifts pair
Urban studies: Doing research when every city is different
FxWirePro: GBP/USD slips as dollar extends gains after US PMI data
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure
FxWirePro: GBP/NZD uptrend loses steam, remains on bullish path
Global Markets React to Strong U.S. Jobs Data and Rising Yields
2025 Market Outlook: Key January Events to Watch
FxWirePro: USD/JPY firms as bearish yen sentiment persists
US Gas Market Poised for Supercycle: Bernstein Analysts
Trump’s "Shock and Awe" Agenda: Executive Orders from Day One
FxWirePro- Major Pair levels and bias summary
China's Refining Industry Faces Major Shakeup Amid Challenges 



