Chart - Courtesy Trading View
Technical Analysis:
- USD/JPY was trading 0.12% lower on the day at 142.16 at around 06:10 GMT
- The pair is consolidating previous session's losses, finds support at 21-EMA
- Price action has slipped below 200H MA, GMMA indicator shows bearish shift on the intraday charts
- Momentum is turning bearish, Stochs and RSI are showing a bearish rollover from overbought levels
- Chikou span is biased lower, MACD is showing a bearish crossover on signal line
Major Support Levels: 141.66 (21-EMA), 141
Major Resistance Levels: 143.11 (5-DMA), 143.35 (200H MA)
Summary: USD/JPY trades rangebound as investors gear up for preliminary PMIs from the US for fresh trading impetus. Price action pivotal at 21-EMA support. Break below will drag the pair lower.
