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Dollar edges higher versus yen after falling roughly 3 percent in the past three days

the USD/JPY changed its trend from sideways to up on 4-hour chart. If the pair manages to break up the area between 119.45yen & 120.99yen, it will face next resistance at 121.84yen and the main resistance stands at 122.60 yen. The recent price bottom failed to touch the lower boundary of the Bollinger bands which confirms the price strength. The CCI indicator broke up its oversold area which is also a sign of strength. The stochastic indicator found support at its oversold area which signals more gains. On the downside, first support lies at the area between 117.85yen &117.23yen; second support is 116.33yen and the main support lies at 114.63yen

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