This morning, Japan's official data showed that industrial production fell 7.2% on month in May (vs -0.5% expected). In the previous release of the report, USD/JPY price moved in a range of 57.6 pips during the 4 hour following the event, ending with a bullish trend of 23.9 pips.
USD/JPY is under pressure this morning
The currency pair has broken below a rising trend line
The 20/50MAs validated a bearish cross
The RSI (14) fell below its neutrality area at 50%
Suggest short positions below 136.35 with targets at 135.75 & 135.50 in extension.
Above 136.35 look for further upside with 136.80 & 137.00 as targets.
Reprinted from Trading Central，the copyright all reserved by the original author.
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