Short term trend: Bullish
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 119.89
Kijun-Sen level: 119.78
Ichimoku cloud top: 119.68
Ichimoku cloud bottom: 119.12
USD/JPY has retreated till 119.32 after making high of 120.23. Intraday trend is bullish as long as support 119 (50% retracement of 117.84 and 120.23).
The pair’s minor support is around 119.60 and any break of will target 119.30/119.The USD/JPY is facing resistance around 120.15 and any break would extend gain till 120.79 (161.8% retracement of 119.32 to 120.23).
Indicators
Ichimoku (9, 26, 52, 26) - Buy
MACD (12.26.9) – Buy
Recommendation: Buy USD/JPY around 119.65-70, SL 119, Target 120.23/120.79.
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 119.89
Kijun-Sen level: 119.78
Ichimoku cloud top: 119.68
Ichimoku cloud bottom: 119.12
USD/JPY has retreated till 119.32 after making high of 120.23. Intraday trend is bullish as long as support 119 (50% retracement of 117.84 and 120.23).
The pair’s minor support is around 119.60 and any break of will target 119.30/119.The USD/JPY is facing resistance around 120.15 and any break would extend gain till 120.79 (161.8% retracement of 119.32 to 120.23).
Indicators
Ichimoku (9, 26, 52, 26) - Buy
MACD (12.26.9) – Buy
Recommendation: Buy USD/JPY around 119.65-70, SL 119, Target 120.23/120.79.