USD/JPY continues to point higher towards 148.70. We are currently looking for a break above resistance at 112.23 to confirm the next impulsive push higher towards 133.39 as the next upside target on the way towards 148.70.
Support is currently seen at 109.19 which is expected to act as a floor as USD/JPY make its way higher through resistance at 112.23.
Trading recommendation:
Buy USD here or upon a break above resistance at 112.23 for the expected rally towards 133.39. Stop should be just below 109.19
