Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
GMMA Indicator
- Major trend is neutral, while minor trend is bearish
Ichimoku Analysis
- Price action is holding support at daily cloud
- Chikou span is biased lower
Oscillators
- Momentum oscillators are strongly bearish
- RSI is below 50 and biased lower, Stochs are at oversold
Bollinger Bands
- Bollinger bands are spread wide apart
- Volatility is high and rising
Major Support Levels: 113.43 (38.2% Fib), 113.35 (Lower BB), 113.14 (110-EMA)
Major Resistance Levels: 113.93 (5-DMA), 114.41 (21-EMA), 114.55 (23.6% Fib)
Summary: USD/JPY extends sideways at cloud support, break below will see more weakness. Technical bias is bearish, scope for test of 110-EMA at 113.14. Bearish invalidation only above 21-EMA.


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