Fxwirepro: Usd/jpy Fails to Sustain Below 103.00 Mark, Faces Strong Resistance at 105.19

USD/JPY is currently trading around 104.59 marks. It made intraday high at 104.82 and low at 104.22 levels. Intraday bias remains slightly bullish for the moment. A daily close above 105.19 is required to take the parity higher towards key resistances around 106.12, 107.90, 110.44, 112.60 (55D EMA) and 113.42 levels respectively. Alternatively, a sustained close below 104.00 will drag the parity down towards key supports at 103.54, 102.10 and 101.56 levels respectively. Important to note here that, 20D, 30D and 55D EMA heads down and confirms bearish trend in a daily chart. Current upside movement is short term trend correction only.

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