Dip buying offers good risk/reward on USDJPY

USDJPY - Intraday - We look to Buy at 137.53 (stop at 136.50)

A sequence of weekly higher highs and lows has been posted. We can see no technical reason for a change of trend. There is scope for mild selling at the open but losses should be limited. Support is located at 137.50 and should stem dips to this area. Dip buying offers good risk/reward.

Our profit targets will be 139.96 and 140.50

Resistance: 140.00 / 145.00 / 150.00
Support: 137.50 / 134.40 / 126.70

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Chart PatternsdollardollaryenDXYTechnical IndicatorsjpyTrend AnalysisUSDUSDJPYyen

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