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Long

USD/JPY holds above 5-DMA at 117.45, good to go long on dips

FX:USDJPY   U.S. Dollar/Japanese Yen
189 0 0
USD/JPY             upside picked-up pace over the last hours and the pair now attempting to retake the 118 handle.

Technicals on dailies, Stochs, RSI and MACD - all supporting price rise, pair also closed above 5-DMA on Thursday's trade and is holding above.

The next Immediate hurdle on the upside is 118.11 (Jan 18th highs), while nearly converging 5&10 DMAs at 117.48 and 117.54 are immediate supports on the downside.

We would go long on dips around 117.80/90, SL: 117, TP: 118.40/118.95
Trade closed: target reached
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