Dollar strengthening against Yen
Tatiana Norkina, FBS analyst
The USD/JPY currency pair consolidated above the four-hour Tenkan and Kijun lines support, 124.60, yesterday. Today, the pair is showing positive movement, recovering into the previous-week resistance area - 125.00.
The overall situation looks welcoming for purchases. Indeed, the Tenkan and Kijun lines have kept the positive influence of the golden cross. The Ichimoku cloud has also retained its bullish character, despite the Senkou Span A and B lines lateral movement.
Technical levels: support – 124.60; resistance – 125.00.
1. Buy — 124.80; SL — 124.60; TP1 — 125.60; TP2 — 126.00.