USD/JPY chart - Trading View
- USD/JPY depressed below cloud top, bias remains bearish.
- The major failed to extend break above 200-SMA on the daily and weekly charts.
- Price action has slipped below major EMAs and technical indicators have turned bearish.
- Volatility rising on the daily charts and momentum with the bears. MACD and DMI support downside.
- Break below daily cloud will see weakness till 109.44 (38.2% Fib). Bearish invalidation above 200-DMA.
- Focus on BoJ minutes and March JOLTS job openings. The employment data could rise to 7.240 million from 7.087 million previous.
Support levels - 110.31 (cloud base), 110, 109.44 (38.2% Fib)
Resistance levels - 111.08 (5-DMA), 111.25 (55-EMA), 111.50 (200-DMA)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
