FX.co ★ USDJPY is right above major support, look to buy

USDJPY bounced above our major support at 100.00 (big figure, Fibonacci projection, horizontal support) and we expect a further bounce above 100.70 to reach our profit target of 101.75. Stop loss is adjusted to 100.00 for breakeven to protect our profits.

RSI (21) is displaying bullish divergence vs price signalling a reversal is impending and is also support price with its long term ascending support.

Buy above 100.10. Stop loss at 99.75. Take profit at 101.25.