usd jpy weekly-expect 111+ as medium term tgt

usd jpy forex weekly technical analysis 9 to 13 may 2016 usd jpy forex weekly technical analysis 16 to 20 may 2016 Usd jpy pair this week closed with gain. This was second weekly gain for pair on recovering dollar and weak yen.   On weekly chart, usd/jpy has formed bottom around 106.5 and now moving towards 110-111 levels. For next week, dollar yen outlook remain bullish on strong $DXY.   On downside support zones are 107.5 and 106.5. Traders here follow buy on dips strategy.   On monthly chart, strong reversal pattern is visible. Expect minimum technical bounce back rally up to 111-112 zone.

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