USD/JPY Daily outlook

FX:USDJPY   U.S. Dollar / Japanese Yen
272 0 1
USD/JPY             has broken short term resistance 119.20 (Feb 6th high) and is trading well above the level. Overall trend is bullish as long as support 118 holds.

Intraday support -119.20. Break below 119.20 will take the pair to 118.80/118.50.

Intraday resistance- 119.95.On the upside break of 119.95 will take to next target 120.70/121.80.

Indicators (1 Hour chart)
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy

Recommendation: Buy USD/JPY             around 119.60, SL 119.18, Targets 120.70.

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