The secondary trend of USDJPY is sideways on charts. In its hourly chart, the pair is sustaining at lower levels and is likely to trade downside. Prices are consolidating with strong negative bias and its 30 and 200 DMA are also providing resistance to the prices supporting the further down-trend. If it breaks its support level of 118.75 & sustains below it then it is expected to show further bearish movement in next few days.


MACD is sustaining in selling territory, supporting the down side movement in the market.

STRATEGY:- USDJPY is looking bearish on charts for next few session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.