USD/JPY intraday: the downside prevails as long as

USD/JPY intraday: the downside prevails as long as 105.65 is resistance

USDJPY

Trading Central 2021-02-20 04:49:04

105.65 is our pivot point.

Our preference: the downside prevails as long as 105.65 is resistance.

Alternative scenario: the upside breakout of 105.65, would call for 105.87 and 106.

Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 105.48 and 105.55).

Supports and resistances:

106.00 **

105.87 *

105.65 **

105.56

105.47 last

105.14

105.01 **

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