Chart - Courtesy Trading View
Spot Analysis:
USD/JPY was trading 1.14% lower on the day at 132.71 at around 07:40 GMT
Previous Week's High/ Low: 138.87135.56
Previous Session's High/ Low: 136.57/ 134.19
Fundamental Overview:
The US dollar index (DXY) printed a fresh three-week low of 105.84 and is likely to display more weakness after poor US GDP data renewed recession fears.
US Bureau of Economic Analysis reported on Thursday, US annual Gross Domestic Product (GDP) at -0.9%, missing expectations of 0.5%.
Focus today will be on US Personal Consumption Expenditure (PCE) data, which is seen at 6.7%, higher than the prior print of 6.3%.
Technical Analysis:
- USD/JPY slips lower for the 3rd straight session, hits 6-week low
- Price action has broken below 55-EMA support and is on track for further downside
- Daily cloud is immediate support at 132.82, break below will plummet prices
- Momentum is strongly bearish and volatility is high and rising
Major Support and Resistance Levels:
Support - 132.82 (Cloud top), 130.87 (Cloud base), 129.51 (110-EMA)
Resistance - 133.76 (55-EMA), 135.41 (5-DMA), 136.05 (21-EMA)
Summary: USD/JPY sell-off to continue as price breaks into daily cloud. 110-EMA at 129.51 insight.


FxWirePro: AUD/USD hovers near three –month high, scope for further upside
FxWirePro- Major Pair levels and bias summary
Bitcoin Yawns at Fed Cut – Coiled Tight at $92K: $90K Hold = Straight Shot to $100K
FxWirePro: EUR/AUD moves higher following downbeat Australian jobs report
FxWirePro- Major Pair levels and bias summary
FxWirePro: EUR/NZD shows upside momentum, but bearish outlook remains
FxWirePro: GBP/NZD ticks down after UK GDP data disappoints
FxWirePro: USD/CAD recovers slightly but trend is still bearish
FxWirePro- Major European Indices
FxWirePro: USD/CAD outlook weaker on renewed downside pressure
NZD/JPY: Bearish Momentum Builds — Sell the Rallies Below 90.90 for a Slide Toward 88.00
Sterling Crushed by Double-Contraction GDP – EURGBP Spikes, Next Stop 0.8850–0.8900
FxWirePro- Woodies Pivot(Major)
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls
FxWirePro: USD/JPY caught in narrow range, bias bearish
FxWirePro: NZD/USD consolidates around 0 .5810,room for further gains 



