Technical Analysis – USDJPY strongly bullish
Posted on April 3, 2014 at 9:05 am GMTUSDJPY is in a strong uptrend. The pair has reached a 2-month high of 104.05 in the Asian session today. Prices are above the Ichimoku cloud on the hourly chart which is a bullish signal and above the rising trendline. RSI is in bullish territory above 50. The market is consolidating above support at 103.80. Next important support is the 103.57 level. A move to the upside will target 104.05 above this there is scope to reach 105.20. [..]