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Long

USD/JPY Daily Outlook

FX:USDJPY   U.S. Dollar/Japanese Yen
243 1 2
USD/JPY             is consolidating between 118.25 and 119.40 for the past four trading session. Overall trend is bullish as long as support 118.20.

The pair’s minor support is around 118.70 ( ichimoku cloud bottom) and break below 118.70 will target 118.20/116.80.

The pairs minor resistance is around 119.40 and break of will extend gain till 120/120.49.

Indicators (1 hour chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy

Recommendation: Buy USD/JPY             around 118.70, SL 118.20, Targets 119.40/120.
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