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Long

USD/JPY Daily Outlook

FX:USDJPY   U.S. Dollar/Japanese Yen
253 0 1
USD/JPY             made a high of 119.19 and has retreated from that level. Short term trend is bullish as long as support 118

The break of short term support around 118 will take the pair to 117.25/116.80.

On the upside major resistance is around 119.20 and break above will target 119.95/120.65.

Indicators (4 Hour chart)
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy

Recommendation: Buy USD/JPY             around 118.45, SL 117.95, Targets 119.18/119.95.
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