USD/JPY has broken minor resistance 120 and made a high of 120.58. Intraday trend is bullish as long as support 119.40 (23.6% retracement of 120.58 and 115.55) holds.
On the upside minor resistance is around 120.60 and break of will take the pair to 121/121.85. The pair’s minor support is around 120 and break below would extend loss to 119.40/119.
Indicators (1 Hour chart)
CCI (50) – Buy
CCI (14) – Sell
Ichimoku- Buy
Recommendation: Buy USD/JPY around 120, SL 119.40, Target 121/121.83.
On the upside minor resistance is around 120.60 and break of will take the pair to 121/121.85. The pair’s minor support is around 120 and break below would extend loss to 119.40/119.
Indicators (1 Hour chart)
CCI (50) – Buy
CCI (14) – Sell
Ichimoku- Buy
Recommendation: Buy USD/JPY around 120, SL 119.40, Target 121/121.83.