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JPY Trading Outlook (27-11-2015)

Medium Term Strategy: Forex Pair of the day

USD/JPY – the upside prevails
The pair has broken above a ST declining trend line and rmains supported by its rising moving averages. Further advance is therefore likely with a first target set at 126 (June top). A break above this threshold would call for further bounce towards 127.70 and towards 130 in extension (horizontal resistances). Only a break below the horizontal support at 119.80 would turn the outlook to bearish with a first alternative target set at 118 (horizontal support and October bottom) and a second one set at 116 (December bottom).
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