USD/JPY is consolidating between 118.25 and 119.40 for the past four trading session. Overall trend is bullish as long as support 118.20.
The pair’s minor support is around 118.70 (ichimoku cloud bottom) and break below 118.70 will target 118.20/116.80.
The pairs minor resistance is around 119.40 and break of will extend gain till 120/120.49.
Indicators (1 hour chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy USD/JPY around 118.70, SL 118.20, Targets 119.40/120.
The pair’s minor support is around 118.70 (ichimoku cloud bottom) and break below 118.70 will target 118.20/116.80.
The pairs minor resistance is around 119.40 and break of will extend gain till 120/120.49.
Indicators (1 hour chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
Recommendation: Buy USD/JPY around 118.70, SL 118.20, Targets 119.40/120.