FxWirePro: usdjpy daily outlook
Source: FxWire Pro - Technicals / 26 Feb 2020 12:41:59 America/New_York
Ichimoku Analysis (Hourly chart)
USDJPY recovered more than 50 pips after 4 days of bearishness. China's death toll due to coronavirus rose to 2700 and the number of cases infected worldwide crossed 80000. Iran recorded several deaths next to China. The pair jumped to 110.58 and is currently trading around 110.45.
On the flip side, immediate support is around 109.91 (21-day MA) and any violation below will drag the pair down till 109.18/108.30.
The near term important resistance is around 110.65 (200-H MA), an indicative break up targets 111/111.35. Significant bullish continuation only beyond 112.25.
It is good to buy above 110.65 with SL around 110.18 for the TP of 111.35.© FxWire Pro 2020. 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.