USD/JPY Skyrocketting above 123

USD/JPY Skyrocketting above 123

9:00 PM (EST) Update

USD/JPY Daily: The pair broke above the key resistance level of 121.50, reached bullish target of 123 above  Ichimoku Cloud’s .

Forex Trading Idea: Bullish targeting 124

Technical Analysis: After ranging inside an extended triangle for over 5 months, the dollar-Yen pair finally broke above  a very important psychological level and reached an 8 year high of 123,above the Ichimoku cloud.

Where to set your stops and limits:

Support Levels Turning Point Resistance Levels
121.50 121.50 124
119.50 119.50 123