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Long

USD/JPY major resistance by 55-EMA at 103.22, long break above

FX:USDJPY   U.S. Dollar/Japanese Yen
234 0 10
USD/JPY             was rejected at 55-EMA by 103.22 which is major resistance.

The pair has broken above 50-DMA at 102.67.

Break above 55-EMA at 103.22 can see test of 104.20 (trendline).

Major support levels - 102.87 (H 20 MA), 102.67 (50-DMA), 102.58 (38.2% Fib).

Major resistance levels - 103.22 (55-EMA), 103.52 (50% Fib), 104, 104.20 (trendline).

Good to go long on breakout above 103.22, SL: 102.65, TP: 103.50/ 104/ 104.20

On the downside break below 50-DMA (102.67) could see test of 101.75.

Bearish resumption on break below 20-DMA at 101.24.
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