USD/JPY chart - Trading View
USD/JPY was trading 0.10% higher on the day at 107.80 at around 04:30 GMT.
The pair is extending break above daily cloud and we see scope for further upside.
Reuters Tankan survey released earlier today showed Japan business morale hits decade low amid coronavirus pandemic.
The survey showed both manufacturers and service-sector firms expect a sharp fall in business sentiment in the three months ahead, at minus 51 and minus 48, respectively.
Price action has confirmed break out of consolidation and is set to extend gains. Momentum studies have turned bullish.
The pair has paused upside at 110-EMA which is offering stiff resistance at 108.10. Break above will see further upside.
Immediate resistance above 110-EMA lies at 200-DMA at 108.26. Break above 200-DMA to buoy prices higher.
55-EMA is strong support at 107.69. Retrace below 21-EMA negates bullish bias.
FOMC minutes due today be in focus for further impetus. U.S. Markit PMI, Existing Home Sales and Japan Inflation data will also have impact on price movement.
Support levels - 107.69 (55-EMA), 107.26 (21-EMA), 106.70 (Cloud base)
Resistance levels - 108.10 (110-EMA), 108.26 (200-DMA), 108.85 (50% Fib)


FxWirePro- Major Pair levels and bias summary
EURUSD Spikes to 1.14306 on Fed Pause as Traders Eye Sell-the-Rally Setup
FxWirePro: USD/CAD slips after Fed holds rates steady
FxWirePro:EUR/NZD gains some upside momentum but still bearish
FxWirePro- Woodies pivot (Major)
JPY Action Bias: EURJPY and CADJPY Emerge as Extremely Bullish Pairs to Watch
FxWirePro: GBP/AUD gains above 1.9200 level , upside pressure builds
Nikkei Surges Past 65,000 on Suspected Yen Weakness: Tech Giants Like Advantest and NEC Lead Explosive Gains
FxWirePro: USD/ZAR firms ahead of Fed interest rate decision
FxWirePro: USD/JPY edges higher as focus shifts to BOJ decision
FxWirePro: GBP/AUD drifts lower after BOE rate decision
FxWirePro- Woodies pivot (Major)
FxWirePro: NZD/USD firms as Kiwi gains on strong ANZ business outlook data
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/ CNY hits one-month low,scope for futher downside
AUD/JPY Slips Below 112 as BOJ Intervention Sparks Bearish Momentum: Sell the Rallies 



