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- JPY bulls fought back control and regained lost footing, knocking-off USD/JPY once again below 106 handle.
- USD/JPY breaks major trendline support at 105.80, good to go short on rallies intraday bias lower.
- Techs on 2-hourly charts are bearish. Stochs rollover from overbought zone and RSI biased south.
- Immediate support and resistance are seen at 105.30 (5-DMA) and 105.96 (session high).
- Focus remains on US housing data, while the prevalent risk trends will continue to drive price action in the major.
Recommendation: Good to sell rallies around 105.80/85, SL: 106.30, TP: 105.30/ 105
