- USD/JPY has recovered till 119.16 after making a low of 118.42. So bullish invalidation can happen only below 118.
- The pair's minor support is around 118.79 (ichimoku cloud bottom) and break below 118 will target 118/116.80.
- The pairs minor resistance is around 119.40 and break of will extend gain till 120/120.49.
Indicators (1 hour chart)
CCI (50) - Sell | CCI (14) - Sell | Ichimoku- Sell
Recommendation: Buy USD/JPY around 118.50, SL 118, Targets 119.40/120.
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