USD/JPY Daily Outlook

FX:USDJPY   U.S. Dollar / Japanese Yen
134 0 0
USD/JPY             mad e low of 113.85 and has recovered from that level. Overall trend is bullish as long as support 113 holds.
Intraday support -114.60. On the downside break below will target 114.20/113.80. USD/JPY             is facing resistance around 115.60. Any indicative break above would extend gain to 116.39 (161.8% retracement of 115.50 to 114.05).
Recommendation: Buy USD/JPY             around 115.10-15, SL 114.59, Target 116.39.
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