Only charts

As advised in an earlier post , usdjpy rallied from 112.60¥ and currently testing 113.50¥ which is around 78% fibconnaci retracment level A short position can be opened at current level with target 112.80¥ and stoploss on any 1h candle close above 113.50¥ . A break above 113.50¥ will send the pair to 114.60¥ area. RSI indicator is currently sitting at 70 mark .  There is no much of economic data today , key event will be CPI inflation data to be released at 13:30 GMT.

Newzeland consumer price index is going to be released within 5 minutes. My call is for a short trade with target at 0.7095 then 0.6980 . Nz CPI is expected to be 0.1% versus 0.3% last quarter. Next resistance lies at 0.7220$ and it concides with the 200 MA