workingtraders
Long

$USDJPY Support building but looking for fundamental direction

FX:USDJPY   U.S. Dollar/Japanese Yen
299 0 8
Support at 118.20 area.

• Price is staying between 118.20 - 119.40 range. Looking for fundamental direction. Which we could get from Yellen.
•Looking for a push towards 120.50 area.
•If we do see a dip the rising trend line around 117.90 could act as a support.
•Long-term bullish bias is favored as long as BOJ still keeps printing Yen and USD early rate hikes still on the table.
•Long term Goal is still 124.00