FX.co ★ USDJPY remains in bullish short-term trend

USDJPY has bounced off the 38% Fibonacci retracement and cloud support at 106.90 and now is making new highs at 108.73. In Ichimoku cloud terms we expect price to move higher towards 110.50.

USDJPY has bounced off critical Fibonacci and cloud support. Price is now making new higher highs and I expect price to continue its up trend towards 110.80-111. Support is at 107.70. Any pull back towards that area is considered a buying opportunity. Bulls do not want to see price break below 107-106.80.