USDJPY medium term outlook: Target 118.50
23 July 2018
As seen on the weekly USDJPY chart , the pair resumed its uptrend after breaking 111 trend line resistance which has held well for last 3 years. Market has always corrected back hitting the falling trend line resistance and now having broken it the medium term outlook is on the upside for target of 118.50-118.80 levels. Immediate resistance lies at 113.16 followed by 114.75 and then 118.65 levels. Buy around 110.90 for target of 118.50 with SL at 110.10.
Regards,
Nitesh Sharma
Routeforex Solutions Pvt Ltd.