- USD/JPY finds stiff resistance at 20-DMA at 109.95, we see upside only on decisive break above.
- Recovery in the pair after recovery in the stock markets in the previous day's trade failed to extend.
- Price has slipped below 5-DMA and on intraday charts we see some weakness.
- Price action is holding support by 1H 200-SMA at 109.25, we see weakness on break below.
- Upside seems to be capped by hourly Ichimoku cloud, price gradually extending decline.
- Break below 1H 200-SMA could see drag till 108.90 (78.6% Fib) ahead of 108.40 (rising trendline).
Support levels - 109.25 (1H 200-SMA), 108.90 (78.6% Fib retrace of 107.318 to 114.737 rally), 108.40 (trendline)
Resistance levels - 109.48 (5-DMA), 109.95 (20-DMA), 110.15 (61.8% Fib)
Recommendation: Good to go short on break below 1H 200-SMA, SL: 109.95, TP: 108.90/ 108.40/ 108.15.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest


FxWirePro: EUR/AUD dips below lower range, bearish bias increases
FxWirePro: GBP/NZD slips amid prolonged geopolitical uncertainty
FxWirePro- Major Pair levels and bias summary
FxWirePro: EUR/ NZD downside pressure builds, key support level in focus
Bitcoin Rises on Diplomatic Hopes: Bulls Eye $85,000 Ahead of Ceasefire Talks
FxWirePro: NZD/USD firms as Q1 NZ CPI runs hotter than expected
FxWirePro- Major European Indices
FxWirePro: USD/CNY inches higher as investors await potential US-Iran peace talks
Sterling Surge: GBPJPY Rebounds from Fibonacci Support as Yen Weakness Persists
FxWirePro: AUD/USD stalls as uncertainty around the U.S.-Iran outlook peace talks weighed on risk sentiment
FxWirePro: USD/CAD dips as weaker dollar gives bears some traction
FxWirePro: USD/ZAR recovers some ground but upside is limited
FxWirePro- Woodies Pivot(Major)
FxWirePro: USD/ZAR trades in narrow range as Middle East tensions fester
FxWirePro: GBP/USD dips as strong U.S. data boosts greenback
FxWirePro: GBP/USD recovers from early dip but upside is limited 



