Short term trend: Bullish
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 118.35
Kijun-Sen level: 118.49
Ichimoku cloud top: 118.65
Ichimoku cloud bottom: 118.12
USD/JPY has recovered after making a low of 117.84 and overall trend is bullish as long as 117.70 (38.2% retracement of 115.44 and 119.13).On the downside break of 117.70 will target 117.20and 116.81.
The pair’s minor resistance is around 118.50 and any indicative break above would extend gain to 119.15/119.96 (161.8% retracement of 119.13 and 117.84).
Indicators
Ichimoku (9, 26, 52, 26) - Buy
MACD (12.26.9) – Buy
Recommendation: Buy USD/JPY around 118.40-45, SL 117.70, Target 119.15/119.96.
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 118.35
Kijun-Sen level: 118.49
Ichimoku cloud top: 118.65
Ichimoku cloud bottom: 118.12
USD/JPY has recovered after making a low of 117.84 and overall trend is bullish as long as 117.70 (38.2% retracement of 115.44 and 119.13).On the downside break of 117.70 will target 117.20and 116.81.
The pair’s minor resistance is around 118.50 and any indicative break above would extend gain to 119.15/119.96 (161.8% retracement of 119.13 and 117.84).
Indicators
Ichimoku (9, 26, 52, 26) - Buy
MACD (12.26.9) – Buy
Recommendation: Buy USD/JPY around 118.40-45, SL 117.70, Target 119.15/119.96.
