We prefer to long USD/JPY

FX:USDJPY   U.S. Dollar / Japanese Yen
Positioning Bias:

USD/JPY has retreated after making high of 118.85. Overall trend is still bullish as long as support 115.50 holds.

On the downside any break below 115.50 will target 113.85/113 in short term.

The pair’s minor resistance is around 118 and any indicative break above will target 118.85/119.95 in short term.

Indicator (4 Hour Chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell

Recommendation: Buy USD/JPY around 116.80, SL 115.50, Target 119.85