Description
⋅ 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