USD/JPY Short Term outlook

FX:USDJPY   U.S. Dollar / Japanese Yen
369 0 1

USD/JPY             has broken major resistance 119.25 ( trend line joining 121.83 and 120.73) and further upside till 121.83/125 cannot be ruled out.

On the downside 119.20 will be acting as minor support and break below will target 118.80/118 in short term.

Indicators ( Daily chart )
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy

Recommendation: Buy USD/JPY             around 120.20, SL 119.18, Targets 121.80/125.
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