FxWirePro
Long

USD/JPY daily Outlook

FX:USDJPY   U.S. Dollar/Japanese Yen
248 1 3
USD/JPY             has broken short term major resistance 120.50 and is currently trading around 121.04. It confirms the continuation of bullish trend and jump till 121.80.

On the downside minor support is around 120.50 and any break below will target 120/119.65(200 day HMA ).

The pair’s minor resistance is around 121.20 and above that level it will reach 121.85/123.

Indicators (1 hour chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku-Buy

Recommendation: Buy USD/JPY             around 120.90, SL 120.40, Targets 121.75.
Buy at 120.45, Target: 121.45, Stop: 120.10
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