Description
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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.