USD/JPY is unable to extend gains above 200-DMA at 121.47 which is strong resistance on the upside.
- The pair is trading by day's lows at 120.53, any further bullishness could be seen only if pair breaks above 200-DMA.
- For now, bears seem to rule the day, downside has accelerated after the RBA policy decision to stay on hold.
- Techs indicate further downside, RSI is biased lower, we see a bearish Stochs crossover at overbought levels, a rollover below 80 levels would further confirm downside.
- Immediate support on the downside is seen at 120.03 (5-DMA), while on the upside resistance lies at 121.03 (session highs) ahead of 121.47 (200-DMA).
Recommendation: We find it good to sell rallies around 120.70, SL: 121.50, TP: 120/119.75/119.60


FxWirePro- Major Pair levels and bias summary
AUDJPY Extremely Bullish Above 113: Strong AUD Fuels Fresh Rally – Buy Dips at 113 Targeting 115
Major JPY Action Bias — Extremely Bullish Setups in NZD/JPY, AUD/JPY and CAD/JPY
FxWirePro:EUR/NZD extends fall, key support lies ahead
FxWirePro: NZD/USD steadies around 0.5830,retains bid tone
FxWirePro: GBP/NZD downtrend slows, but bearish sentiment remains
GBPJPY Stuck in Tight Range – Neutral Bias Persists Despite Bullish EMAs
GBPJPY Bullish on Consolidation: Holds Above 216 After 218 Top – Buy Dips at 217 Targeting 220
NZDJPY Smashes 4-Month High on Kiwi Buying Frenzy – Bullish Setup Remains Strong
FxWirePro: EUR/AUD bears maintain upper hand
NZDJPY Extremely Bullish Above 94: Broad NZD Buying Fuels Fresh Upside – Buy Dips at 93.70 Targeting 95
FxWirePro :USD/JPY bulls loosen their grip a bit, dips to be bought
FxWirePro :USD/JPY hovers near 40-year high, bias bullish
FxWirePro: USD/ZAR downside pressure builds, key support level in focus
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/AUD loses momentum but outlook is bullish 



