USD/JPY daily chart with Ichimoku cloud, 20/5/5/3 stochastics, 100/200 MA and Fibonacci retracements

The USD/JPY is still in the process of completing its minor correction after reaching key long-term target of 124.00. This correction however may end soon, as Ichimoku cloud provides support at 122.00 area, where the 50% Fibonacci retracement lies. Also 20/5/5/3 stochastics is near its oversold region, confirming a correction is about to end. Therefore, It is believed these levels provide a good opportunity to re-enter a long USD/JPY position from 122.90 for 128.00, 130.00 and ultimately a major resistance level and the final target from the bullish flag at 135.00. Stop will be a sustained close below 120.00, estimates RBS