FxWirePro

USD/JPY Short term Outlook

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
1
USD/JPY has recovered after making low of 116.06. 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) – Buy
Ichimoku- Neutral

Recommendation: Buy USD/JPY around 117.30-40, SL 116, Target 119.85.
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