- USD/JPY extends downside on the day, is trading at 111.03, down -0.21% on the day, having posted a daily high at 111.33.
- The pair remains capped below 200-DMA which is stiff resistance at 112 levels.
- Spinning top formation seen on daily candles on Thursday's trade, suggests indecision.
- The pair failed to see follow through of a 'Morning Star' candlestick pattern.
- Price is hovering around 38.2% Fib retrace of 98.787 to 118.662 rally at 111.07.
- Intraday bias is bearish. The pair finds strong support at 110.62, break below could see further weakness.
- Test of channel base at 109.30 then likely, bearish invalidation on close above 200-DMA.
Support levels - 110.62 (cloud base), 110, 109.30 (channel base)
Resistance levels - 111.26 (5-DMA), 111.25 (cloud top), 111.96 (200-DMA).
Call update: We had advised a short in our previous call (http://www.econotimes.com/FxWirePro-Possible-Death-Cross-on-USD-JPY-go-short-on-decisive-close-below-200-DMA-815003).
Recommendation: Hold for targets. Watch out for break below 110.62, target 109.30.
FxWirePro Currency Strength Index: FxWirePro's Hourly USD Spot Index was at -37.6512 (Neutral), while Hourly JPY Spot Index was at 102.088 (Bullish) at 0530 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest


EURGBP Bears Break Trendline: Sell Rallies at 0.8578 as Support Breach Eyes 0.8450 Slide
FxWirePro: USD/CNY slips as strong China exports data Lift yuan
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
DAX & CAC40 Score Perfect 100: Extremely Bullish With Major Levels to Watch as FTSE100 Hits 80
FxWirePro: GBP/USD eases as dollar firms ahead of U.S. June non-farm payrolls report
FxWirePro- Major Crypto levels and bias summary
NZDJPY Bears Lie in Wait: Sell Rallies at 93 for 90 Target with 94 Stop
FxWirePro: USD/ZAR gains some ground, but downtrend remains
FxWirePro: GBP/USD rises as weak U.S. jobs data pressures dollar
FxWirePro: NZD/USD retreats as Middle East instability weighs
AUDJPY Bears Poised: Sell Rallies at 111.55 for 108 Target with 112.20 Stop
FxWirePro: EUR/AUD slips after surprise U.S. employment data
FxWirePro : EUR/NZD holding below 38.2% fibo ahead of US data
FxWirePro: AUD/USD eases as investors await U.S. employment figures 



