Dips and bounces from midweek, from support now at 118.66/61, ahead of better foundations at 118.28/11, then a solid end of week and month upside follow-through.
This reinforces our bullish view from the rally last week near to our next target at 119.88 (up to 119.85).
Short-term Outlook - Upside Risks:
- We still see bias for a retest of the recent peak at 120.50.
- Through here sees a more positive tone with the bullish threat to 120.75/83.
For Today: We see bias through 119.85/88, closer to 120.50.
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4 Hour USDJPY Chart