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USDJPY: Attempting to form bullish base - 2ndSkies

FXStreet (Bali) - According t Chris Capre, Founder at 2ndSkies, USD/JPY is attempting to form a bullish base along 117.40/50, with Chris expecting another leg up to re-attack the 119 highs.

Key Quotes

"The USDJPY has been forming a short term bullish base around 117.38. You'll notice the double bottom and pin bar rejections off those lows, showing intra-day buying interest and bids willing to step in there."

"For now, I'm expecting another leg up to re-attack the 119 highs. The ST key support zone for the pair is between 117.38 and 116.95 so am open to buying in this range. After 119, we have stiff resistance ahead in 120. Only a daily close below 116.95 sours the MT bullish trend.

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