21.10.201409:52:00UTC+00Usd/jpy Daily Outlook

Short term Trend: Bearish

Ichimoku analysis (4 Hour chart)

Tenken-Sen-106.81

Kijun-Sen -106.33

Ichimoku cloud Top-107.38

Ichimoku Cloud bottom-108.27

USD/JPY made a low of 106.24 and has recovered till 106.63. Bearish invalidation can happen only above 107.50.
On the upper side break above will target 108.20/108.80.
Minor support is around 105.80 (50% retracement of 101.50 and 110.08). Break below will target 105/104.50.
Recommendation: Sell USD/JPY around 106.85-90, SL 107.51, Target 105.80/105.

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