Salzworth

Outlook on USDJPY: Bullish play seen

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FOREXCOM:USDJPY   美元/日元
On the H4 time frame, prices are holding above the key support zone at 113.60 where we could see further upside above this level. On the H1 time frame, a pullback to our support area at 113.72, in line with the 61.8% Fibonacci retracement and 100% Fibonacci extension presents an opportunity to play the bounce to the next resistance target at 114.20, in line with the 50% Fibonacci retracement.
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