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.
The material has been provided by InstaForex Company – www.instaforex.com