USDJPY rises like rocket after NFP news released. It has broken its ranging zone also. From the support area, it has pulled back. Next target for this pair is 120.80 resistance area. This pair breaks short-term and long-term down trend line. So it confirms it bullish rally again. So we need to retest trend line and then we need to take buy entry.
Submit Your Comments:
In Technical Indicators view
In daily chart, MACD indicator is still below 0.0 level.
In daily chart, RSI indicator is now above 50 level which indicates its bullish rally
All Moving averages are giving bullish bias on this pair
In summary, for long term it is on bullish mode, so we need to stay on upside from every retrace.
Weekly Pivot, Support and Resistance
Resistance Two (R2): 120.73
Resistance One (R1): 119.91
Pivot Point: 118.39
Support One (S1): 117.57
Support Two (S2): 116.05