USD/JPY has recovered after making low of 118.85 and overall trend is bullish as long as SUPPORT 118.75 holds.
On the downside minor support is around 119.90 and any indicative break below will target 119.40/118.75 in short term.
The pair’s minor resistance is around 120.75 and any break of would extend gain to 121.58/121.85.
Indicators (hourly chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy USD/JPY around 120.45-50, SL 119.90, target 121.
On the downside minor support is around 119.90 and any indicative break below will target 119.40/118.75 in short term.
The pair’s minor resistance is around 120.75 and any break of would extend gain to 121.58/121.85.
Indicators (hourly chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy USD/JPY around 120.45-50, SL 119.90, target 121.