- USD/JPY is trading between 119.28 and 121.50 in the previous week. It has made temporary top around 122.01 and any further bullishness can be seen only above that level.
- On the downside 119.15 (20 day WMA) will be acting as minor support and any break below will drag the pair further down till 118.67/118. overall downside will be limited to 118.
- The break above 122.01 will extend gains to 124.13 key resistance next.
Indicators (Weekly chart)
CCI (50) – Buy
CCI (14) – Buy
We prefer to buy USD/JPY around 119.25-30 SL 118, Targets 122.05/124.13.
The material has been provided by InstaForex Company – www.instaforex.com