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2017.04.2404:03:00UTC+00Fxwirepro: Usd/jpy Trades Slightly Above 110, Jump Till 112 Likely
USD/JPY shown a gap up today morning after first round of French election result. The pair jumped till 110.51 and is currently trading around 110.12.
The pair upside is capped by daily Kijun-Sen (110.81) and any break above will take the USD/JPY till 111.48 (100 day EMA)/112.
Short term bullish invalidation only below 108 and any break below will drag the pair down till 106.35 (61.8% retracement of 98.78 and 118.66)/105.
The momentum indicators like MACD and RSI is showing buy signal in the daily chart. It is good to buy on dips around 109.95-110 with SL around 109 for the TP of 112.
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