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- RES 4: 122
- RES 3: 121.75 (28th Aug 2015)
- RES 2:121.30 ( SEP 10TH HIGH)
- RES 1: 120.75 (20 day HMA)
PRICE: 120.34 @11:23 GMT
- SUP 1: 120.16 (38.2 % retracement of 118.05 and 121.50)
- SUP 2 : 119.60
- SUP 3: 119
- SUP 4: 118.60
USD/JPY has broken strong trend line support around 120.48 (trend line joining 118.05 and 119.60) and break below confirms further weakness, a decline till 120/119.60 is possible.
On the higher minor intraday resistance is around 120.80 and break above targets 121.10/121.30 level.
Overall trend reversal only below 119.60. Below 119.60 will drag the pair till 119/118.60.
It is good to sell on rallies around 120.45 with SL around 120.81 for the TP of 119.60.
