USD/JPY Reached Bearish Target of 119.25

Get Started With our Free masterclass

USD/JPY Reached Bearish Target of 119.25

9:00 AM (EST) Update

USD/JPY Daily: Testing Ichimoku Cloud’s Lower Level

Suggested positioning: None

Technical Analysis: The pair continues to range indies the Ichimoku cloud. Unable to break below the cloud, we saw a new bullish sentiment Monday morning during Asian session. The RSI remains around the neutrality area. A break below Ichimoku’s lowe level at 119 could bring further drops towards 118.50.

Alternative Scenario: Above 119.75 look for further upside towards 120.27.

Where to set your stops and limits:

Support Levels Turning Point Resistance Levels
118.50 119.25 120.27
118.30 119.75