Chartistics
Long

USDJPY Long bias

FX_IDC:USDJPY   US DOLLAR / YEN
57 0 3
UJ is currently range bound 118.5 & 121.5.
Thursdays daily candle closed as a hammer, facing rejecting off of the ascending trend line
and the support level 118.5. An aggressive long could have been taken here. For a more conservative entry the Fridays close completed the morning star candlestick pattern.
A break of the upper TL will confirm bullish momentum with targets set at 121.5.
Strong resistance may be met here with a good opportunity to short given the right Price Action of off the 61.8 fib level and 121.5 resistance zone.
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