USD/JPY: bullish trend remains in force
Tatiana Norkina, an analyst at FBS
Bulls can’t settle down - yesterday's trade ended with their complete victory. Fixation above 119th figure allowed new customers to take part in the game and by the end of the day the pair came to the figure of 120.00 very close. However, the immediate goal is a bit higher - in 120.60 area.
Positive attitude of Ichimoku indicator on four-hour lines keeps on. Action of the golden cross is reinforced due to the increase of Tenkan line. Ichimoku cloud also expands strengthening the long-term bullish trend.
Growth of oscillators is also observed. At the same time, the RSI has entered the overbought zone.
Technical levels: Support - 119.50, 119.10; resistance - 120.00, 120.60.
1. Buy - 119.50; SL - 119.30; TP1 - 120.00; TP2 - 120.60.