USD/JPY Short term Outlook

FX:USDJPY   U.S. Dollar / Japanese Yen
297 6 2
USD/JPY             made a high of 118.64 and is slightly retreating from that level. It is facing strong resistance around 118.78 (200 day 4HMA)-118.85 (Jan 20th high).

On the upside 118.85 is acting as major resistance any break above will take the pair to 119.95/120.75 in short term.

The pair’s minor support is around 117.25 and break below will target 116.80/116.

Indicators (4 Hour chart)
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy

Recommendation: Buy USD/JPY             around 118.25-35, SL 117, Target 119.95/120.70.
Sl 117?
Hi, isn't this the same trade idea as the one on USDJPY 4 days ago?
FxWirePro KingArthur
no slight changes i have made

I think UsdJpy is going to go down side for short term, However I hope you are correct.
No_more_Post No_more_Post
Tp +75pips. My set up
I followed the FxWirePro hold a long position, respect the accuracy of their predictions.
-2 Reply
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