USD/JPY chart - Trading View
USD/JPY was trading 0.10% higher on the day at 107.80 at around 04:30 GMT.
The pair is extending break above daily cloud and we see scope for further upside.
Reuters Tankan survey released earlier today showed Japan business morale hits decade low amid coronavirus pandemic.
The survey showed both manufacturers and service-sector firms expect a sharp fall in business sentiment in the three months ahead, at minus 51 and minus 48, respectively.
Price action has confirmed break out of consolidation and is set to extend gains. Momentum studies have turned bullish.
The pair has paused upside at 110-EMA which is offering stiff resistance at 108.10. Break above will see further upside.
Immediate resistance above 110-EMA lies at 200-DMA at 108.26. Break above 200-DMA to buoy prices higher.
55-EMA is strong support at 107.69. Retrace below 21-EMA negates bullish bias.
FOMC minutes due today be in focus for further impetus. U.S. Markit PMI, Existing Home Sales and Japan Inflation data will also have impact on price movement.
Support levels - 107.69 (55-EMA), 107.26 (21-EMA), 106.70 (Cloud base)
Resistance levels - 108.10 (110-EMA), 108.26 (200-DMA), 108.85 (50% Fib)


JPY Currency Meter Signals: NZDJPY Bullish (+25) vs CHFJPY (-100) – These Pairs Could Move Next
Major European Indices Score Extremely Bullish: DAX Eyes 26000, CAC Targets 8600, FTSE100 at 11000 – Key Levels to Watch
FxWirePro: AUD/USD dips below lower range, bearish bias increases
FxWirePro: USD/CAD slips after Fed holds rates steady
FxWirePro: GBP/NZD remains weak, eyes 38.2%fib support
FxWirePro: GBP/USD rises as soft US data pressures dollar
FxWirePro:USD/JPY climbs back above 160.00 after BOJ rate decision
Nikkei Surges Past 65,000 on Suspected Yen Weakness: Tech Giants Like Advantest and NEC Lead Explosive Gains
AUDJPY Volatile After Massive Sell-Off: Sell Rallies at 113, Targeting 110 as Bearish Momentum Surges
FxWirePro : GBP/NZD strongly bearish despite upside attempts
Major FX Action Bias & US Market Sentiment: NZD/USD (Extremely Bullish) & AUD/USD (Bullish) Watchlist
FxWirePro: GBP/AUD gains above 1.9200 level , upside pressure builds
NZDJPY Bullish Rebound: Buy Dips as EMAs Align for 97 Target
FxWirePro: EUR/AUD regains upwards momentum but unable to hold above 50%fib level
FxWirePro- Major Crypto levels and bias summary
FxWirePro: NZD/USD firms as Kiwi gains on strong ANZ business outlook data 



