Intraday trend: Bullish
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 115.95
Kijun-Sen level: 115.74
Ichimoku cloud top: 115.50
Ichimoku cloud bottom: 115.35
USD/JPY has broken previous high 116.09 which confirms bullish trend has started. Intraday trend is bullish as long as support 115.60 holds.
On the downside break below 115.60 will target 115.25/114.85.
Short term trend reversal only below 114.60. The pair is facing minor resistance around 116.20 and any indicative break above would extend gain to 116.84 (161.8% retracement of 116.09 and 114.87)/117.03
Recommendation: Buy USD/JPY around 116.10-15, SL 115.59, Target 116.84/117.02.
Ichimoku analysis (1 Hour chart):
Tenkan-Sen level: 115.95
Kijun-Sen level: 115.74
Ichimoku cloud top: 115.50
Ichimoku cloud bottom: 115.35
USD/JPY has broken previous high 116.09 which confirms bullish trend has started. Intraday trend is bullish as long as support 115.60 holds.
On the downside break below 115.60 will target 115.25/114.85.
Short term trend reversal only below 114.60. The pair is facing minor resistance around 116.20 and any indicative break above would extend gain to 116.84 (161.8% retracement of 116.09 and 114.87)/117.03
Recommendation: Buy USD/JPY around 116.10-15, SL 115.59, Target 116.84/117.02.
