SUP 1: 119.09 (61.8% retracement of 115.55 and 1220.01)
SUP 2: 118.30 (26th Mar low)
SUP 3: 116.85 (Mar 2nd low)
SUP 4: 115.55 (Dec 16th high)
COMMENTARY: USD/JPY has taken support near 118.70 and recovered from that level. Short term trend is bullish as long as support 118.30 holds.
On the upside minor resistance is around 119.96 and any break above would extend gains till 120.35/121.18.
It is good to buy around 119.30 for the target of 121.18 with stop around 118.30.
Comentarios
IvanLabrie
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Completely opposite view this time.
I think the trend is bearish, and we will see 117 before we see 121.
Daily ichimoku shows a strong kijun/tenkan bearish cross and the lagging span under price currently.
I really think it can cross the cloud down in 2 days.
Realisto_FX
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Hi Ivan , I´m also short but I reduced exposure . To confirm bearish bias we need to see price back below 118.7 . So there´s bullish space for very short term traders
I think the trend is bearish, and we will see 117 before we see 121.
Daily ichimoku shows a strong kijun/tenkan bearish cross and the lagging span under price currently.
I really think it can cross the cloud down in 2 days.