USDJPY: 107.78 is the key level to watch
|USDJPY already probed into daily Ichimoku cloud and closed above Tenkan-sen.
Last time price was exactly rejected by the long term downtrend range low @ 107.78.
Close above here will be bullish.
There's no major resistance until 109.37.
To the downside, 106.61 will be the first support level.
If today close above 107.58, that will be the first sign of upside acceleration.
We'll look to buy deeper retracement or the breakout.
USDJPY Trade Idea:
Sell limit @ 107.58 stop 107.82 for 106.61
Buy limit @ 105.78 stop 105.20 for 109.37
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