14/05 USDJPY eyes on 119.50 level


TECHNICAL DAILY OUTLOOK – USDJPY 14th of May (4:49GMT)

EYES ON 119.50

NEWS THAT CAN HAVE AN IMPACT:
– U.S. PRODUCER PRICE INDEX (13:30 GMT)

If this setup will be confirmed and reinforced by fundamentals then this is what we can trade.

First resistance: 119.50-119.60

First bearish target area: 118.60

Second bearish target area: 118.20

Ultimate bearish target area: 117.355 (weekly)

On the contrary, if news will say that inflation is boosting and rates can be assumed to gain chances for a uplift then we will see USD/JPY fighting back against the 120.350 resistance, first, and 120.950, finally.

USDJPY 14th of May USDJPY 14th of May – D1 (Chart time 4:49GMT)

USDJPY 14th of May USDJPY 14th of May – H4 (Chart time 4:49GMT)

Author: Simone Ambrogio

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