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22 Apr 2015
USD/JPY bulls taking charge towards120 handle
FXStreet (Guatemala) - USD/JPY is currently trading at 119.90 with a high of 119.97 and a low of 119.34.
USD/JPY has developed a bullish flag formation with the poll starting at 119.35 and 119.80 the base of the flag and bulls getting behind the major with sights on the 120 handle while crossing over into the 119.90's at time of writing. The major was supported on US data and higher yields while the Yen was a chop across the board but traded with a bearish bias throughout the session in the US.
Technically, bulls would be in good territory with a firm close above the 120.84 high that was previously charted on the 13th April this year and this could then give some fuel to the uptrend towards the December and March highs at 121.86/122.04.
USD/JPY has developed a bullish flag formation with the poll starting at 119.35 and 119.80 the base of the flag and bulls getting behind the major with sights on the 120 handle while crossing over into the 119.90's at time of writing. The major was supported on US data and higher yields while the Yen was a chop across the board but traded with a bearish bias throughout the session in the US.
Technically, bulls would be in good territory with a firm close above the 120.84 high that was previously charted on the 13th April this year and this could then give some fuel to the uptrend towards the December and March highs at 121.86/122.04.