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Chart pattern- Bullish Divergence
USDJPY trades weak for 3rd consecutive week and lost more than 1000 pips from high 112.22. The demand for Safe-haven assets like yen, gold after the outbreak of Coronavirus. It hits an intraday low of 101.579.
On the flip side, immediate major support is at 101.50 and any indicative break above targets 100/98.78.
The near-term resistance is at 103.05 and any indicative break above will take the pair till 104.07/105.
It is good to buy on dips around 101.50 with SL around 100 for the TP of 105.
