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Long

USD/JPY Daily outlook

FX:USDJPY   U.S. Dollar/Japanese Yen
145 0 0
Intraday trend: Bullish
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 115.95
Kijun-Sen level: 115.74
Ichimoku cloud top: 115.50
Ichimoku cloud bottom: 115.35

USD/JPY             has broken previous high 116.09 which confirms bullish trend has started. Intraday trend is bullish as long as support 115.60 holds.
On the downside break below 115.60 will target 115.25/114.85.
Short term trend reversal only below 114.60. The pair is facing minor resistance around 116.20 and any indicative break above would extend gain to 116.84 (161.8% retracement of 116.09 and 114.87)/117.03

Recommendation: Buy USD/JPY             around 116.10-15, SL 115.59, Target 116.84/117.02.

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