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.
Comments
No_more_Post
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Sl 117?
KingArthur
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Hi, isn't this the same trade idea as the one on USDJPY 4 days ago?
FxWirePro
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no slight changes i have made
No_more_Post
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tradingview.com/v/7nmIMXUQ/ I think UsdJpy is going to go down side for short term, However I hope you are correct.
No_more_Post
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Tp +75pips. My set up
snd
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I followed the FxWirePro hold a long position, respect the accuracy of their predictions.