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FxWirePro: USD/JPY pauses downside at 21-EMA support, dollar bulls regain poise ahead of PMIs

Chart - Courtesy Trading View 

Technical Analysis:

- USD/JPY was trading 0.12% lower on the day at 142.16 at around 06:10 GMT

- The pair is consolidating previous session's losses, finds support at 21-EMA

- Price action has slipped below 200H MA, GMMA indicator shows bearish shift on the intraday charts

- Momentum is turning bearish, Stochs and RSI are showing a bearish rollover from overbought levels

- Chikou span is biased lower, MACD is showing a bearish crossover on signal line

Major Support Levels: 141.66 (21-EMA), 141

Major Resistance Levels: 143.11 (5-DMA), 143.35 (200H MA)

Summary: USD/JPY trades rangebound as investors gear up for preliminary PMIs from the US for fresh trading impetus. Price action pivotal at 21-EMA support. Break below will drag the pair lower. 

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