FxWirePro: USD/JPY struggles at 21-EMA resistance, bias neutral

USD/JPY chart - Trading View 

USD/JPY edges lower from session highs at 107.37, intraday bias remains neutral.

The major was trading largely muted at 107.18 at around 10:20 GMT, upside remains capped at 21-EMA resistance.

Traders ignore Japan’s Retail Trade data for May which dropped more than expected to -12.3% YoY versus -11.6% expected. 

Concerns about a surge in new coronavirus cases weighed on investors’ sentiment. The pair struggles amid a mixed market sentiment. 

Technical bias remains neutral. Rejection at 21-EMA and daily cloud could see resumption of downside. 

Clear break above daily cloud and 21-EMA could see further gains. On the data front, focus shall be on the release of the US Pending Home Sales for some trading impetus.

Major Support - 106.00 (Double Bottom)

Major Resistance - 108.37 (200-DMA)