USD/JPY Daily Outlook

USD/JPY has broken minor resistance 120 and is trading slightly above that level. Intraday trend is bullish as long as support 119.50 holds.
On the upside break of 120 will take the pair to 120.48/121. The pair’s minor support is around 119.50 and break below would extend loss to 119.25/118.80.

Indicators (1 Hour chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy

Recommendation: Buy USD/JPY around 119.80, SL 119.48, Target 120.48/121.