FxWirePro
Long

USD/JPY is trading near major resistance 122,targets 124

FX:USDJPY   U.S. Dollar/Japanese Yen
315 1 7
USD/JPY             has formed bullish engulfing pattern and confirms short term bullishness , a jump till 124.13 cannot be ruled out.

Short term trend reversal can be seen only below 120.50.

It is good to buy at dips around 121.30 with stop around 120.48 for the target of 123.40/124.10.
locke_yong
2 years ago
That sure looks like a bullish engulfing pattern to me. but there's no way of confirming the bullishness.
we might never know if the bankers are near the top to do a killing or kuroda's mouthpiece might have some sushi breath that blows down the top.
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