FxWirePro
Long

USD/JPY upside halts at weekly 200-MA, consolidation likely

FX:USDJPY   U.S. Dollar / Japanese Yen
492 0 11
USD/JPY             has broken above 200-DMA to take out 108 levels on Monday's trade.

The major has paused upside after hitting highs of 108.54, highest since June 3rd 2016.

108.43 which is weekly 200-MA is stiff resistance for the pair, breakout above could see a resumption of upside.

We see some consolidation around current levels.

Good to go long on breakout above 108.43, target 109/ 109.25 levels.
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