USD/JPY Daily Outlook

FX:USDJPY   U.S. Dollar / Japanese Yen
258 3 4
USD/JPY             is trading above short term moving average and also above Tenkan-Sen, Kijun-Sen. This indicates that it has formed temporary bottom around 115.50.
The pair’s minor resistance is around 119.60 and any break of will target 120.48/121 in short term.
On the downside minor support is around 118.40 (50 day Hourly EMA ) and any break below will take the pair to 117.80/117.20.

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

Recommendation: Buy USD/JPY             around 119.10, SL 118.39, Target 120/120.48.
Agreed! Went Long today @ 118.82, It stalled in this area for bit, looking for a breakout candle soon...
FxWirePro ChristopherMichaels
If it beaks 119.40. Further jump is possible.
You help me! I actively use your assumptions. Thank you!
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