USD/JPY made a high of 119.19 and has retreated from that level. Short term trend is bullish as long as support 118
The break of short term support around 118 will take the pair to 117.25/116.80.
On the upside major resistance is around 119.20 and break above will target 119.95/120.65.
Indicators (4 Hour chart)
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy
Recommendation: Buy USD/JPY around 118.45, SL 117.95, Targets 119.18/119.95.
The break of short term support around 118 will take the pair to 117.25/116.80.
On the upside major resistance is around 119.20 and break above will target 119.95/120.65.
Indicators (4 Hour chart)
CCI (50) - Buy
CCI (14) - Buy
Ichimoku- Buy
Recommendation: Buy USD/JPY around 118.45, SL 117.95, Targets 119.18/119.95.