The major trend of
USD/JPY
is bullish. Prices are successfully consolidating with strong
positive bias taking resistance of falling trend line and expected to
give breakout at upside. If the pair crosses the important level
of 121.55 and sustains above it then it can continue its ongoing
trend. If USD/JPY
crosses the resistance level of 121.60 at upside then we can expect
it to test the level of 122.20/122.60.
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INDICATORS:-
RSI is sustaining in buying territory supporting the
upcoming bullish trend in the pair.
Prices are also taking support of 200 DMA, can show
positive side movement for the day.
STRATEGY:-
USD/JPY
is sustaining on higher levels & looking bullish on charts. One
can go for buy on dips strategy for this pair for intra day to mid
term positions.
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