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USD/JPY and its targets

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Trade ideas:

  1. BUY at 113.40; TP1 113.80; TP2 114.00; SL 113.15.
  2. BUY at 113.00; TP1 113.80; TP2 114.00; SL 112.80.

It looks like there’s a chance to slice some fruit from USD/JPY. The pair formed a “hammer” candlestick on the weekly chart close to the support line connecting March and October lows. The uptrend is safely in place.

USDJPYWeekly.png

Smaller timeframes show that USD/JPY managed to overcome last week’s high around 113.15. As a result, the dollar has a fair chance to test 113.80/114.00 area where we find some key Fibonacci levels and the resistance line connecting October and November highs.

Screenshot_19.png

FBS Analyst Team

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