USD/JPY can test higher levels

USD/JPY can test higher levels

Trade idea

BUY 112.20; TP 112.80; SL 112.00

Have a look at the daily chart of USD/JPY: the 50-day MA went above the 100-day MA, while the pair has once again risen above the 200-day MA at 111.50. Earlier the pair failed to hold at this level. This time, however, given the fast recovery from the support at 111.00, it may be more successful as there’s a scope for an advance to the 2018 resistance line at 112.80.

USDJPY 17.png

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