USD/JPY trades a narrow range on the day 121.48/10, consolidating after the massive spike post BoJ surprise rate decision on Friday.
- The pair has strong resistance by 200-DMA (currently at 121.46), further gains likely on breaks above.
- Price action has entered the daily cloud, with cloud base at 120.90 seen as strong support.
- Momentum is still higher, strength seen in RSI which is currently at 64 with room to run, however Stochs in overbought territory warrant caution.
- Breaks above 121.46 could see test of 122.09 (78.6% Fib retrace of 123.76 to 115.97 fall).
- On the downside immediate support is seen at 120.90 (cloud base), and further below at 120.84 (Dec 21 lows) and then at 120.58 (double bottom Dec 11th and 15th).
Recommendation: Good to go long on breaks above 121.46, SL: 120.90, TP: 122


FxWirePro: NZD/USD downside pressure builds, key support level in focus
FxWirePro: GBP/NZD firms as RBNZ pushes back on rate hike prospects
FxWirePro: GBP/NZD remains bullish as rally continues
FxWirePro:USD/JPY neutral in the near-term, scope for downward resumption
AUDJPY: Bearish Setup Intact — Sell Rallies Near 103.30 Targeting 100
FxWirePro- Major European Indices
FxWirePro- Major Crypto levels and bias summary
UK Economy Accelerates, But GBP/JPY Stays Capped – Sell Toward 206
FxWirePro: EUR/AUD uptrend loses steam, remains on bullish path
FxWirePro- Major Pair levels and bias summary
FxWirePro: EUR/NZD advances as kiwi weakness after RBNZ's Breman comments
FxWirePro: AUD/USD runs out of steam but maintains bullish outlook
FxWirePro- Woodies Pivot(Major)
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls
USD Loses Shine: Soft Labor Market and Stalling Consumer Spending Drag USDCHF Lower
FxWirePro: AUD/USD uptrend loses steam, remains on bullish path 



