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USD/JPY chart - Trading View
USD/JPY has erased early gains and has retraced below daily cloud, reinforcing bearish bias.
The pair was trading 0.05% lower at 106.54 at around 04:30 GMT, edging lower from session highs at 106.87.
Dwindling risk sentiment due to US President Donald Trump’s comments on the US-China trade deal keeps downside pressure.
The major is extending bearish streak for the 7th straight session, volatility is rising.
GMMA supports further weakness. Both major and minor trend for the pair is strongly bearish.
'Death Cross' (bearish 50-DMA crossover on 200-DMA) to plummet prices further. Next major bear target lies at 61.8% Fib at 105.20.
Upside remains capped at 5-DMA (106.93), break above to see test of 21-EMA at 107.57.
