Salzworth

Outlook on USDJPY: Bullish play seen

Long
FOREXCOM:USDJPY   U.S. Dollar / Japanese Yen
On the H4 time frame, prices are holding above the key support zone at 113.60 where we could see further upside above this level. On the H1 time frame, a pullback to our support area at 113.72, in line with the 61.8% Fibonacci retracement and 100% Fibonacci extension presents an opportunity to play the bounce to the next resistance target at 114.20, in line with the 50% Fibonacci retracement.
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