FxWirePro: USD/JPY holds above 5-DMA at 117.45, good to go long on dips
USD/JPY upside picked-up pace over the last hours and the pair now attempting to retake the 118 handle. Technicals on dailies, Stochs, RSI and MACD - all supporting price rise, pair also closed above 5-DMA on Thursday's …
USD/JPY upside picked-up pace over the last hours and the pair now attempting to retake the 118 handle.
Technicals on dailies, Stochs, RSI and MACD - all supporting price rise, pair also closed above 5-DMA on Thursday's trade and is holding above.
The next Immediate hurdle on the upside is 118.11 (Jan 18th highs), while nearly converging 5&10 DMAs at 117.48 and 117.54 are immediate supports on the downside.
Recommendation: We would go long on dips around 117.80/90, SL: 117, TP: 118.40/118.95
