Currency analyst

USD/JPY: the power of bulls

On the daily USD/JPY chart the trend changed from bearish to bullish (EMA9 crossed EMA26, +DMI crossed and settled above  –DMI) and there's currently a sustainable bullish trend (MACD is rising). In a situation like this the best strategy will be to buy on pullbacks down.

On H1 the signal will be Stochastics going to the oversold area with the following return to 20-80 channel. This should happen close to support at 105.75.

Recommendation: BUY 105,75 SL 105 TP1 106,75 TP2 107,25. 

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