USD/JPY forms cup -and- handle pattern, targets 125.85
Chart Pattern: Cup and handle
USD/JPY has made a high of 124.46 and is currently trading at 124.35. Intraday trend is bullish as long as support 123.78 holds.
Any break below 123.78 will drag the pair further down till 123.50/123.25 in short term .
On the higher side any break above 124.60 will target 125/125.85 in short term.
It is good to buy at dips around 124.30-35 with SL around 123.78 for the TP of 125/125.85.
USD/JPY has made a high of 124.46 and is currently trading at 124.35. Intraday trend is bullish as long as support 123.78 holds.
Any break below 123.78 will drag the pair further down till 123.50/123.25 in short term .
On the higher side any break above 124.60 will target 125/125.85 in short term.
It is good to buy at dips around 124.30-35 with SL around 123.78 for the TP of 125/125.85.