USD/JPY full of optimism
Tatiana Norkina, FBS analyst
During yesterday's trading session, the USD/JPY currency pair continued its recovery and by the end of the day, exceeded the two-months old maximums. The extremum of the day was registered at 121.70. It should be noted that the pair has long been trying to break through the 120.60 resistance.
The four-hour trend remains bullish. The golden cross formed by the Tenkan and Kijun lines, as well as the positive Ichimoku cloud are obvious to maintain interest of the buyers. Therefore, we expect the currency pair rate growth in the short term.
Technical levels: support – 121.20; resistance – 121.70.
1. Buy — 121.50; SL — 121.30; TP1 — 122.15; TP2 — 122.50.