Chart - Courtesy Trading View
Technical Analysis: Bias Neutral
- USD/JPY trades rangebound above daily cloud
- The pair is holding support at 5-DMA, 5-DMA has turned bullish
- Price action is capped between 21 and 55 EMA
- Stochs are on verge of bullish rollover from oversold levels
- RSI flat around 50 mark, volatility is high
Support levels - 113.26 (5-DMA), 113.07 (38.2% Fib)
Resistance levels - 113.65 (21-EMA), 113.94 (20-DMA)
Summary: USD/JPY trades with a neutral bias. Daily cloud is offering strong support, break below will see more weakness.
