- USD/JPY has formed bullish engulfing pattern and confirms short term bullishness, a jump till 124.13 cannot be ruled out.
- Short term trend reversal can be seen only below 120.50.
- On the downside below 120.50 it can reach till 119.80/119.50 in short term.
It is good to buy at dips around 121.30 with stop around 120.48 for the target of 123.40/124.10.
The material has been provided by InstaForex Company – www.instaforex.com