USD/JPY is trading at 109.64 below 109.75 upside obstacle. The outlook is bullish as the price is traded way above the red uptrend line. It has continued to increase as expected after jumping above 109.21.
Jumping above 109.75 could confirm a further upside movement towards 110.50 or higher to 111.00 psychological level. The price has declined a little in the short term trying to attract more buyers before resuming its uptrend.
Buy USD/JPY if the rate jumps above 109.75 and if it reaches 109.80 level. The pair could aim at 111.46 if it stabilizes above the 110.00 level.
The material has been provided by InstaForex Company – www.instaforex.com
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