- USD/JPY broke below 200-DMA and hit fresh 6-week lows of 109.73, lowest level since April 25.
- Japan’s labor cash earnings were reported at a four-month high, thus strengthening bid tone around the Yen.
- Technical studies have turned bearish on break below 200-DMA. RSI is below 50 and biased lower.
- Price action has also broken below daily cloud and is now below all major moving averages.
- We see scope for test of 50% Fib of 98.787 to 118.662 rally at 108.72.
- Bearish invalidation if pair retraces losses and closes above 200-DMA.
Support levels - 109, 108.72 (50% Fib), 108.13 (Apr 17 low)
Resistance levels - 110.22 (200-DMA), 110.36 (cloud base), 111 (38.2% Fib)
Recommendation: Good to go short on rallies around 109.85, SL: 110.55, TP: 109/ 108.75
FxWirePro Currency Strength Index: FxWirePro's Hourly USD Spot Index was at -102.205 (Bearish), while Hourly JPY Spot Index was at 143.418 (Bullish) at 0540 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.


FxWirePro- Major Crypto levels and bias summary
FxWirePro- Woodies pivot (Major)
Bitcoin Reclaims $65,000 as Easing Geopolitical Tensions Fuel Risk-On Rally
Major Pair Currency Score: NZD/USD and AUD/USD Lead Forex Rally with Perfect 100 Scores
FxWirePro: GBP/AUD eases slightly, focus on near-term support
FxWirePro: AUD/USD eases as investors await U.S. employment figures
FxWirePro- Woodies pivot (Major)
FxWirePro: GBP/USD eases as dollar firms ahead of U.S. June non-farm payrolls report
FxWirePro: EUR/AUD slips after surprise U.S. employment data
EURGBP Bears Break Trendline: Sell Rallies at 0.8578 as Support Breach Eyes 0.8450 Slide
FxWirePro- Major Pair levels and bias summary
FxWirePro- Major Crypto levels and bias summary
NZDJPY Bears Lie in Wait: Sell Rallies at 93 for 90 Target with 94 Stop
FxWirePro: GBP/USD rises as weak U.S. jobs data pressures dollar
EUR/USD Rockets Past 1.1560 as Soft U.S. Jobs Data Fuel Fed Rate-Cut Surge 



