USDJPY: 4-hour cycle is bearish
against 12/15/2016 (118.66) while 1-hour cycle remains bullish
against 3/26/2018 low (104.56). Near-term correction against 5/30 cycle is proposed complete at 110.57 low, while dips remain above there and more importantly above 5/30 low (108.06) pair is expected to resume the upside. We don’t like selling the pair and prefer more upside as far as a pivot
at 108.06 low stays intact.
Buy @ 111.25/111.10
Target : 112.00
Stop loss : 110.96