FxWirePro
Long

We prefer to go long in USD/JPY

FX:USDJPY   U.S. Dollar/Japanese Yen
81 0 0
Long term trend: Bullish
Ichimoku analysis (Weekly chart):
Tenkan-Sen level: 112.32
Kijun-Sen level: 110.26
Ichimoku cloud top: 102.50
Ichimoku cloud bottom: 99.76

USD/JPY             is facing major resistance around 120.01 (161.8% retracement of 118.96 and 117.25) and any break above would extend gain to 124.13 and 127 in the short term.
The pair’s minor support is around 116.30 and any break below will take the pair to 115.40/114.
Long term trend reversal only below 114.

Indicators
Ichimoku (9, 26, 52, 26) - Buy
MACD (12.26.9) – Buy

Recommendation: Buy USD/JPY             around 119.15, SL 114, Target 127.
Ideas