Short USD/JPY rallies, target 116/ 115.20/ 114.75
USD/JPY has breached strong support by 20-DMA at 116.99.
Technical studies have turned bearish. RSI and Stochs have rolled over from overbought zone.
MACD has shown a bearish crossover on signal line and momentum is lower.
Close below 20-DMA will see scope for test of 113.97 (23.6% Fib if 98.78 to 118.66 rally).
On the flipside break above 117.19 (5-DMA) could see test of 118.45 ( trendline )
USD/JPY has breached strong support by 20-DMA at 116.99.
Technical studies have turned bearish. RSI and Stochs have rolled over from overbought zone.
MACD has shown a bearish crossover on signal line and momentum is lower.
Close below 20-DMA will see scope for test of 113.97 (23.6% Fib if 98.78 to 118.66 rally).
On the flipside break above 117.19 (5-DMA) could see test of 118.45 ( trendline )
