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USD/JPY: Bullish bias while above 109.20 - 2ndSkies

FXStreet (Bali) - Chris Capre, Founder at 2ndSkies, remains with a bullish bias in USD/JPY as long as above 109.20 support.

Key Quotes

"Continuing its bull run, the USDJPY sold off in early US trading today, only to find a strong bid, and form a long tailed pin bar rejection off the 1hr 20 EMA & key support around 109.50 that we talked about prior. The pullback since then has been largely corrective, so I am looking to buy pullbacks."

"If we get aggressive selling and a break below 109.50, then the lows from yesterday come into play around 109.20. If either of these hold, then we should see a re-attack on the yearly highs just above 109.75. Hence I'm continuing my bullish bias while above 109.20 short term which has paid off in the last two trade setups I took on this pair."

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