USD/JPY forms morning star pattern in daily chart,targets 124.40

Posted On 11 Jul 2015

By : TradingView

Comment: 0

Tag: USDJPY

USD/JPY forms morning star pattern in daily chart,targets 124.40

U.S. Dollar/Japanese Yen
FX:USDJPY

FxWirePro

Candle stick pattern- Morning star

USD/JPY has recovered from the low of 120.45 and jumped till 122.86. It’s major resistance is around 122.90 (20 day MA) and break above confirms further bullishness till 123.70/124.40.

On the downside minor support is around 122.30 and break below will target 121.60/121.30 level.

Overall trend reversal only below 120.30.

It is good to buy at dips around 122.40-50 with SL around 121.60 for the TP of 123.40/124.35.

Source:: USD/JPY forms morning star pattern in daily chart,targets 124.40

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