USD/JPY has rebounded strongly after hitting support level at 122.30 in the early Asian hours to trade at 122.74 levels, the support level at 122.30 set to hold the bears from falling further below and push the pair towards higher levels in the short term, as the US dollar is stronger across the board against Japanese yen in the intraday trading.
- Strong support can be seen at 122.30, a break below this level will expose the pair towards next support level located at 121.96.
- Major resistance can be seen at 123.00, a break above this level will open the gates towards 123.50 levels.
Recommendation: We prefer long above 122.60, targets 123.00, 123.40, SL 121.80.
Resistance Levels
R1: 122.93 (Nov 25th high)
R2: 123.00 (Psychological levels)
R3:123.23 (Nov 23rd High)
Support Levels
S1: 122.64 (38.2% Retracement Level)
S2: 122.30(50% Retracement Level)
S3: 121.96 (61.8 % Retracement Level)


FxWirePro: GBP/AUD steadies above 1.9000, retains bid tone
The Great Liquidation: A BTC and ETH Futures & Options Data Dashboard Review of Oct 7
FxWirePro: USD/ZAR holds above 16.600, maintains bullish bias
FxWirePro: EUR/NZD uptrend looks tired, but continues to hold
FxWirePro: GBP/USD retreats as Bailey warns of prolonged inflation risks
FxWirePro- Major Pair levels and bias summary
FxWirePro: AUD/USD edges lower as risk sentiment deteriorates
NZD/JPY Facing EMA Resistance Below 90: Is a Bearish Continuation Underway?
French Fiscal Crisis Triggers Euro Selloff: EUR/USD Slips Toward 1.1100 as OAT-Bund Yield Spread Widens
FxWirePro: GBP/NZD positions for another climb, eyes 2.3700 level
FxWirePro- Woodies Pivot
FxWirePro: EUR/AUD gains some ground but outlook is bearish
FxWirePro: USD/CAD steadies around 1.3260, retains bid tone
FxWirePro: EUR/AUD gains some ground but outlook is bearish
FxWirePro- Woodies Pivot
FxWirePro: GBP/USD slips as dollar strengthens ahead of Fed minutes
FxWirePro: EUR/NZD recovers from early dip, upside pressure builds 



