Chart - Courtesy Trading View
Technical Analysis:
GMMA Indicator
- Near and long term moving averages biased strongly bearish on the hourly charts
- Near-term moving averages have turned bearish on the daily charts
Ichimoku Analysis
- Price action is above daily cloud
- The pair has bounced cloud top support
Oscillators
- RSI is below 50, biased lower
- Stochs are on verge of bearish rollover from overbought levels
Bollinger Bands
- Wide spread suggesting high and rising volatility
Major Support Levels: 113.05 (55-EMA), 112.88 (Cloud top), 112.69 (Lower BB)
Major Resistance Levels: 114.07 (21-EMA), 114.50 (5-DMA), 115
Summary: USD/JPY is holding support at 55-EMA, break below will drag the pair lower. Technical bias is bearish on the intraday charts.
