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23 Apr 2015
USD/JPY: Bulls taking charge in Tokyo
FXStreet (Guatemala) - USD/JPY is currently trading at 119.97 with a high of 120.01 and a low of 119.91.
USD/JPY has popped higher with a score on the 120 handle in the Tokyo open as the major was supported on US data overnight and higher US yields with a follow through of support from early Asian session trade. The bullish flag has started to serve its roll and now the next target needs to be 120.84 for a follow through, while otherwise the major will lack conviction and regarded as simple swing trading and fading opportunities on the hourly times frames.
Technically, bulls would be in good territory with a firm close above the 120.84 high. this was previously charted on the 13th April this year and this could then give some fuel to the uptrend towards the December and March highs at 121.86/122.04.
USD/JPY has popped higher with a score on the 120 handle in the Tokyo open as the major was supported on US data overnight and higher US yields with a follow through of support from early Asian session trade. The bullish flag has started to serve its roll and now the next target needs to be 120.84 for a follow through, while otherwise the major will lack conviction and regarded as simple swing trading and fading opportunities on the hourly times frames.
Technically, bulls would be in good territory with a firm close above the 120.84 high. this was previously charted on the 13th April this year and this could then give some fuel to the uptrend towards the December and March highs at 121.86/122.04.