USD/JPY is consolidating between 120.25 and 119.40 for the past two trading session. Intra day trend is bullish as long as support 119.30 holds.
On the upside break above 120.25 would pave the way for next target around 121/121.80.
Overall bullish invalidation only below 118.
The pair’s minor support is around 119.30 (200 day HMA) and break below will target 118.60/118.20.
It is good to buy at dips around 119.60 for the target of 120.45/121.
Indicators (1 hour chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy USD/JPY around 119.60, SL 119.30, Targets 120.45/121.
On the upside break above 120.25 would pave the way for next target around 121/121.80.
Overall bullish invalidation only below 118.
The pair’s minor support is around 119.30 (200 day HMA) and break below will target 118.60/118.20.
It is good to buy at dips around 119.60 for the target of 120.45/121.
Indicators (1 hour chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy USD/JPY around 119.60, SL 119.30, Targets 120.45/121.