- USD/JPY was rejected at 55-EMA by 103.22 which is a major hurdle on the upside.
- The major has broken above 50-DMA at 102.67.
- Break above 55-EMA at 103.22 can see test of 104.20 (trendline).
- Major support levels - 102.87 (H 20 MA), 102.67 (50-DMA), 102.58 (38.2% Fib).
- Major resistance levels - 103.22 (55-EMA), 103.52 (50% Fib), 104, 104.20 (trendline).
Recommendation: Good to go long on breakout above 103.22, Sl: 102.65, TP: 103.50/ 104/ 104.20


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