FxWirePro: usdjpy daily outlook
Source: FxWire Pro - Technicals / 17 Oct 2019 04:13:41 America/New_York
Ichimoku analysis (hourly chart)
Tenken-Sen – 108.73
USDJPY continues to trade higher after showing a minor dip to 108.55. The overall trend is slightly bullish as long as support 107.90 holds. The pair is trading bullish on declining demand for Safe-haven assets like gold, yen, etc.
The near-term support is around 108.30 and any break below will drag the pair down till 107.90 (200-H MA)/107.37. Major bearish continuation below 106.40.
On the higher side, near term resistance is at 109.30 and any violation confirms bullish continuation and a jump till 110/110.35.
It is good to buy on dips around 108.55-60 with SL around 107.90 for the TP of 109.30© FxWire Pro 2019. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.